SINGAPORE (April 27): Creative Technology sank into the red for the third quarter ended March with a net loss of US$4.61 million ($6.4 million) compared to a net profit of US$4.04 million a year ago.
The corresponding quarter a year ago had benefited from a gain of US$13.69 million.
Sales fell 13% to US$16 million "due to the uncertain and difficult market conditions which continued to affect the sales of the group's products", the company said.
Loss per share clocked US$0.07, compared to earnings per share of US$0.06 previously.
"The group expects no significant change in the market conditions," it warned. "Revenue in this quarter is expected to be comparable to the current level and the group expects to report an operating loss."
Shares of Creative closed at $1.00 on Thursday.
