SINGAPORE (Oct 31): Creative Technology reported a loss of US$6.1 million ($8.5 million) for the 1Q ended Sept (1Q19), reversing into the red from its earnings of US$22.8 million in 1Q18 in the absence of other gains recorded in the latter period.

While Creative booked other gains of US$32 million in 1Q18 largely due to a US$31.2 million received from the settlement of patent lawsuits as well as US$0.6 mil in foreign exchange gains, these contributions were absent from the latest quarter.

Sales for 1Q19 fell 18% to US$13.2 million from US$16.1 million previously, resulting in lower gross profit.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook