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Earnings Roundup

Creative profit and sales fall

January 29, 2008|From Times Wire Services

Creative Technology, whose music players compete with Apple Inc.'s iPods, said Monday that its fiscal second-quarter profit and sales declined after it failed to win customers with price cuts.

Net income fell to $7.63 million, or 9 cents a share, from $10.1 million, or 12 cents, for the year-earlier quarter, ended Dec. 31. Sales fell 19% to $262.5 million.

The Singapore company cut prices of its Zen media devices by as much as half to revive sales amid waning consumer demand.

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