Home Capital Results

Creative reverses into the red in FY19 on lower sales, absence of settlement from patent lawsuits

Uma Devi
Uma Devi8/22/2019 11:38 AM GMT+08  • 2 min read
Creative reverses into the red in FY19 on lower sales, absence of settlement from patent lawsuits
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.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

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.

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%.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now