SINGAPORE – May 24, 2008– Creative Technology Ltd, a worldwide leader in digital entertainment products, today announced that as part of its efforts to reduce operating expenses, as previously announced the Company will incur restructuring charges in its current fourth fiscal quarter. The restructuring charges are expected to be about US$15 million.
Creative also announced today that it expects the Company’s revenues for the current fourth fiscal quarter to come in at approximately US$130 million.
This figure was lower than the US$150 million Creative had said last month that it was hoping to achieve for this quarter. Creative already lost its no. 3 spot in the US mp3 market to Microsoft Zune. Tries to ramp up sales by going into portable video cam market by launching Vado Portable Video Cam. Recently, the Creative HQ is also sold for US$180 million in an attempt to bring in some income.
Looks like Creative is still in a pretty bad shape and in a never ending battling its falling Zen mp3 player sales and rising operating costs.
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