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Creative Tech sinks into 1Q losses in absence of patent settlement gains

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.

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