The lower revenue was largely due to uncertain and difficult market conditions which affected the sales of the group’s products. Sales in Asia Pacific and Europe regions fell by 22% and 19% y-o-y respectively, while sales in America increased by 5%.
SINGAPORE (Aug 22): Creative Technology reversed into the red for FY19 ended June, reporting a net loss of US$3.8 million ($5.3 million), compared to earnings of US$40.4 million in the preceding year.
Revenue for the year fell 17% to US$54.9 million from US$66.1 million back in FY18 although cost of goods narrowed 18% to US$38.9 million from $47.6 million last year.
