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Creative's Q3 net profit plunges 72% to US$15.9m |
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Thursday, 21 April 2005 |
Creative's
Q3 net profit plunges 72% to US$15.9m
Channel News Asia - Singapore
SINGAPORE : Computer audio equipment maker Creative Technology Ltd posted
a 72 percent fall in quarterly net profit due to increased competition and lower
selling prices of digital music players.
Nasdaq-listed Creative said it had net profit of US$15.9 million for the three
months ended March 31, its fiscal third quarter, including a $14.8 million
investment gain.
This compares with earnings of $57.0 million a year earlier, including an
investment windfall of $48.3 million.
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