Creative year-end profit down

Creative year-end profit down

Singapore-based sound card vendor Creative Technology this week reported net profits down 19 per cent for fiscal 1998 on flat sales for the year.

Sales for fiscal 1998 ended June 30, 1998, were $US1.234 billion down from $US1.233 billion for fiscal year 1997, while net profits after one time write-offs and gain from investments were $US134.8 million compared with 1997's figure of $US167 million.

The recent quarters were a challenging time for the company, but next year should be financially solid due to the vendor's strong product line-up, according to Creative chairman and CEO Sim Wong Hoo.

Creative is pinning its hopes for future revenue generation on Sound Blaster Live, its new flagship audio accelerator product delivering what the company calls Environmental Audio. This provides much higher-quality audio for new and existing multimedia applications, Creative said.

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