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Creative Technology's Q1 loss narrows on lower expenses
CREATIVE Technology on Thursday posted a narrowing in net loss for its fiscal first quarter as it tightened expenses.
Net loss for the three months ended Sept 30, 2016 stood at US$6.2 million, compared to US$13.9 million from a year ago.
Sales fell 23 per cent to US$17.3 million, but costs decreased by a greater percentage. All in, gross profit was down 16 per cent to US$4.83 million.
But Creative kept total expenses lower by 37 per cent at US$11.2 million.