Creative Technology Ltd. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2014
For the six months, the company's net sales were $55.6 million compared with $68.2 million a year ago. Loss before income tax was $18.99 million compared with $9.6 million a year ago. Net loss was $19.0 million compared with $9.6 million a year ago. Net loss attributable to equity holders of the company was $19.0 million or $0.27 per basic and diluted share compared with $9.7 million or $0.14 per basic and diluted share a year ago. The higher net loss in the first half year of fiscal 2015 was due mainly to other losses (net) of $8.2 million in the first half year of fiscal 2015 compared to other gains (net) of $1.0 million in the first half year of fiscal 2014. Net cash used in operating activities was $14.4 million compared with $16.4 million a year ago. The decrease was due mainly to the net operating loss for the period, an increase in trade receivables and a decrease in accrued liabilities and provisions, offset partially by a decrease in inventories. Purchase of property and equipment was $0.06 million compared with $0.08 million a year ago. As on December 31, 2014, the company's net asset value per ordinary share was $1.69.