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Creative's Q2 Results Exceed Expectations

Creative Technology announced results for the quarter that ended December 31, reporting sales of $250.9 million for the period.
Last Fall the company had forecasted revenue of $225-$240 million for the quarter, and therefore these results exceeded most expectations. However, sales were far off of last year's revenues of $427 million. Creative said the year-over-year decline was a result of its "de-emphasis of certain product categories and the difficult economic climate." Net income for the second quarter was $26.3 million (36 cents per share) compared to $26.5 million (33 cents per share) for the same quarter last year. Analysts polled by Reuters had expected net income in the range of $13.0-$21.5 million, so the company fared better than most expected.

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