Creative Technology swings into red in Q3

SINGAPORE - Creative Technology swung into a net loss for the third quarter of US$4.6 million (S$6.41 million), reversing a net proft of US$4 million in the same period a year ago.

Revenue in the three months ended March 31 was US$16 million, down 13 per cent from a year ago due to uncertain and difficult market conditions, the group said.

That resulted in a loss per share of US$0.07, from earnings per share of US$0.06 a year ago.

Net asset value per share was US$1.14 as at March 31, a fall from US$1.40 as at June 300 last year.