Creative Technology Ltd today announced that it expects the Company’s revenue for the current fourth quarter ending 30 June 2012 to come in below target, at approximately US$35 million, due primarily to lower than expected demand in Europe resulting from the ongoing Eurozone debt crisis. As previously announced, the Company expects to report an operating loss for the quarter.
The Company also announced today that it has completed the divestment of its 51% interest in a subsidiary, Grandeye Limited, for US$3.5 million and expects to recognise an investment gain of approximately US$2.8 million in the current quarter.
Details of financial results will be available when the Company announces its fourth quarter results in early August.
Ng Keh Long
29 June 2012