Creative Tech in the red for Q3

CREATIVE Technology sank into the red for the third quarter ended March 31, 2017 with a net loss of US$4.61 million compared to a net profit of US$4.04 million a year ago.

The corresponding quarter a year ago had benefited from a gain of US$13.69 million.

Sales fell 13 per cent to US$16 million "due to the uncertain and difficult market conditions which continued to affect the sales of the group's products", the company said.

Loss per share clocked US$0.07, compared to earnings per share of US$0.06 previously.

"The group expects no significant change in the market conditions," it warned. "Revenue in this quarter is expected to be comparable to the current level and the group expects to report an operating loss."