Creative's sales soar, profits down
updated 10:00 am EST, Thu January 20, 2005
Creative\'s financials
Singapore's Creative Technology, who has its sights set on gaining marketshare from Apple, said its as it sold more than 2 million players. The company says it expects the momentum to continue with another 50 percent increase in sales this quarter, despite the introduction the iPod shuffle, a signficant competitive threat to its flash-based players. The EE Times, reports that while sales revenue increased 50 percent to $375 million, up from $250 million in the same period a year before, profit plunged to $11.8 (from $65.2 million in the year ago quarter) after one-time charges related to recent acquisitions. Without those charges, the company's profits only fell slightly from $28.3 in the year-ago quarter to $25.5 million.
