There's a drop in net sales by 26% compared to the same quarter in FY2013. Gross profit margin was 22% in the third quarter of FY2014 com pared to 25% in the 3rd quarter of FY2013. As a result, there was a net loss for the third quarter of FY2014 was US$8.8 million compared to a net loss of US$10.4 million in the third quarter of FY2013.
Although there was an improvement as compared with same quarter in FY2013, but overall its still in red. Thanks to the US$26.7 million gain on divestment of a Creative subsidiary company, ZiiLABS Limited to IBM, foreign exchange gain of US$0.8 million and gain on disposal of property and equipment of US$0.7 million. If not, the net loss would even be wider.
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