Creative Posts Lower Revenues, Higher Income In Q3
Creative Technology announced its Q3 results, posting sales of $193.4 million, down significantly from the $262 million it took in last year, due to a slowdown in PC sales.
On the bright side, net income was up sharply to $15.1 million (20 cents per share) compared to $4.6 million (6 cents per share) last year. Last year's results excluded one-time charges of $31 million and a write down of investments of $75.4 million. The company attributed its rising income during a period of declining revenue to deep cuts in its operating expenses.
