CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider.You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

Creative Technology suffers US$6.1 million net loss, but share price undeterred on Super X-Fi zeal

In spite of the bearish report, the stock defied expectations to stay in the green as investors remain optimistic in the potential of the firm’s new products.

Creative Technology on Tuesday night posted a net loss for the three months ended September 30, attributing the slack to sluggish sales.

The three months slump in performance reverses from the previous quarter’s profit of US$22.8 million. Gains from the previous quarter came about through foreign exchange conversion gains and profit made from the settlement of patent lawsuits.

Due to “uncertain and difficult” market conditions, revenue for the quarter fell by 18% from a year ago's US$16.1 million to US$13.2 million, Creative said.

The company expects no significant change in the problematic market conditions and said the overall market for its products remains challenging.

But Creative thinks the year-end festive period is likely to provide some respite, helped by the sales of its Super X-Fi products. Operating performance for October to December is expected to improve from the earlier quarter, it said.

In spite of the bearish report, the stock defied expectations to stay in the green as investors remain optimistic in the potential of the firm’s new products.

The tech firm announced the sales for its Super X-Fi audio devices in the United States on Monday, claiming that 99% of customers in Singapore are satisfied with the products. The announcement sent the firm’s stock soaring 12.5% to close at S$6.09 on Monday.

At 10.40am Singapore time on Wednesday, Creative’s shares were trading higher, up 0.66% or S$0.04, to S$6.11.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

Find articles by writer

  • Aaran Fronda
    London
  • Andreas Ruhlmann
    Ginevra
  • Angela Teng
    Singapore
  • Anzél Killian
    Johannesburg
  • Barbara Vacher
    Paris
  • Becca Cattlin
    London
  • Callum Cliffe
    London
  • Chris Beauchamp
    London
  • Christos Maloussis
    Ginevra
  • Daniel Dubrovsky
    San Francisco
  • Franz Gmeiner
    Johannesburg
  • James Stanley
    New York City
  • Jeremy Naylor
    London
  • Jingyi Pan
    Singapore
  • John Bollinger
    Chicago
  • Joshua Mahony
    London
  • Joshua Warner
    London
  • Justin McQueen
    London
  • Kelvin Ong
    Singapore
  • Kyle Rodda
    Australia
  • Mahmoud Alkudsi
    London
  • Martin Essex
    London
  • Michael Boutros
    New York City
  • Monte Safieddine
    Dubai
  • Nick Cawley
    London
  • Nyandabeh Ella Vincent
    Chicago
  • Patrick Foot
    Bristol
  • Paul Robinson
    New York
  • Reo Liao
    Australia
  • Rich Dvorak
    Chicago
  • Sam Dickens
    London
  • Shane Walton
    Australia
  • Shaun Murison
    Johannesburg
  • Ted Jackson
    Chicago
  • Travis Robson
    Johannesburg
  • Victoria Scholar
    London
  • Victoria Scholar
    London
  • Will Hall-Smith
    London

This information has been prepared by IG, a trading name of IG Markets Limited and IG Markets South Africa Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. International accounts are offered by IG Markets Limited in the UK (FCA Number 195355), a juristic representative of IG Markets South Africa Limited (FSP No 41393). South African residents are required to obtain the necessary tax clearance certificates in line with their foreign investment allowance and may not use credit or debit cards to fund their international account.

window.$CQ = window.jQuery; window.IG = window.IG || {}; window.IG.cq = window.IG.cq || {};
{"@context":"http://schema.org","@type":"NewsArticle","mainEntityOfPage":"https://www.ig.com/za/news-and-trade-ideas/shares-news/creative-technology-suffers-us-6-1-million-net-loss--but-share-p-181031","headline":"Creative Technology suffers US$6.1 million net loss, but share price undeterred on Super X-Fi zeal","image":{"@type":"ImageObject","url":"https://a.c-dn.net/c/content/igcom/en_ZA/ig-financial-markets/market-news-and-analysis/shares/2018/10/31/creative-technology-suffers-us-6-1-million-net-loss--but-share-p/jcr:content/textimage/image.img.jpg/1540968561306.jpg","height":100,"width":100},"publisher":{"@type":"Organization","name":"IG","logo":{"@type":"ImageObject","url":"https://a.c-dn.net/c/etc/designs/onedomain/20082020/images/IG-60x70.png","height":60,"width":60}},"datePublished":"2018-10-31T03:25:54+0000","dateModified":"2018-10-31T03:25:54+0000","author":{"@type":"Person","name":"Angela Teng"},"description":"In spite of the bearish report, the stock defied expectations to stay in the green as investors remain optimistic in the potential of the firm’s new products.","isAccessibleForFree":"True"} if(document.cookie.indexOf('userGdprLevel={"userLevel":"1"')>0){window["optimizely"]=window["optimizely"]||[];window.optimizely.push(["skipPageTracking"]);window["optimizely"].push(["optOutThirdPartyCookies"])}