Creative Technology ( Valuation: 0.90, Fundamental: 2.25) has posted earnings of US$12 million ($17.1 million) for 2QFY2016, a reversal from the net losses of US$9.2 million in 2QFY2015.
Group revenue declined 15% to US$26.5 million for the quarter to December, on the back of a challenging market environment which impacted the sales of its products.
The group however recognised other gains of US$23.7 million, comprising a gain on disposal of investments of US$2.7 million, and a US$21 million settlement from a patent lawsuit.
Looking ahead, management says it does not expect any significant change in market conditions and adds that the market for its products will remain challenging. As such, revenue for the current quarter is expected to be lower and the group expects to report an operating loss.
Creative shares closed unchanged at $1.08 on Jan 28.
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Group revenue declined 15% to US$26.5 million for the quarter to December, on the back of a challenging market environment which impacted the sales of its products.
The group however recognised other gains of US$23.7 million, comprising a gain on disposal of investments of US$2.7 million, and a US$21 million settlement from a patent lawsuit.
Looking ahead, management says it does not expect any significant change in market conditions and adds that the market for its products will remain challenging. As such, revenue for the current quarter is expected to be lower and the group expects to report an operating loss.
Creative shares closed unchanged at $1.08 on Jan 28.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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