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News
Creative Posts Another Loss
Wednesday, August 9th, 2006 at 3:00 PM - by Brad Cook
Continuing to struggle against the iPod's dominance, Creative Technology has posted a net loss of US$118.2 million for its just-ended fiscal year, compared to a $588,000 profit the year before. A TechWhack report notes, however, that the company expects to return to profitability by the end of this year, on the strength of new products.
Creative Labs president Craig McHugh commented: "During the fourth quarter, although we posted a loss for the period and for the year, we made progress towards our goals."
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