Creative Technology

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FY2020 Result as at 30 Jun 2020
Rev USD61m (vs 54m)
GP  USD17m (vs 15m
Net Loss USD17m (vs 3m)

2HFY2020 
Rev      USD19m (vs 25m)
GP       USD 8m (vs 7m)
Net Loss USD 9m (vs +7m)

There is significant uncertainty in the pace of economic recovery from the COVID-19 pandemic and the outlook for the global economy, in addition to the on-going trade tensions. For the current financial year, the new products introduced are expected to continue to drive revenue growth for the Group. The ongoing COVID-19 restrictive measures, including restrictions on entertainment venues, home-based learning and work from home arrangements, may also provide additional growth opportunities for the Group’s products that address the demand for a better audio experience for home entertainment, home-based learning and working from home.

For the financial year and first half year of FY2021, the Group expects to increase revenue from the current level and a reduction in operating loss. 
https://links.sgx.com/FileOpen/H220Earni...eID=629574

Stay home and stay safe, everyone

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CREATIVE - QnA today
We have been engaging several OEM customers, mostly in China, over the past two years. There is keen interest amongst these customers in our Super X-Fi technology. However, it is a long sales cycle where we have to go through several departments, evaluation and negotiations, which involves face-to-face meetings and demonstrations, before we arrive at a deal. Only then can we start the design-in cycle, which could still take several months. 

We have been marching diligently through this whole process with several prospects, until the Covid-19 pandemic struck the world – and with all the restrictive measures including travels, all these progress ground to a halt.

There will be no dividend payment for this year. Currently, the Company does not have sufficient retained earnings to pay a dividend.
https://links.sgx.com/FileOpen/Responses...eID=637098

Stay home and stay safe, everyone.

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Creative Technology 1H result as at 31 Dec 2020
Rev USD47m (vs 31m)
GP  USD15m (vs  8m)
NP  USD209k (vs -8m)

The pace of economic recovery from the COVID-19 pandemic and the outlook of the global economy remain uncertain. For second half year of FY2021, the Group is targeting to maintain revenue at current level and improve operating results.

https://links.sgx.com/FileOpen/H121Earni...eID=647361

Stay home and stay healthy, everyone.

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Creative@270

Creative Technology Ltd today announced that for the second half year of the financial year ended 30 June 2021 (“FY2021”), the Company expects to report revenue of approximately US$36 million, an increase compared to revenue of US$30 million in the second half year of the financial year ended 30 June 2020 (“FY2020”), but a reduction compared to US$47 million in the first half year of FY2021. For the full year of FY2021, revenue is expected at US$83 million compared to US$61 million for FY2020, and the Company expects to report an operating loss for FY2021.
https://links.sgx.com/FileOpen/Announcem...eID=673517

Stay home and stay safe, everyone.

[dreamybear]

I am not an accountant by training; what caught my attention was the capital reduction which removed the accumulated losses. As an investor, if the accumulated losses were removed from the financial statements, how do I ascertain the track record of the company at a glance, i.e. company was making profits or losses over the past few years ? 

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Creative Technology FY30Jun2021
https://links.sgx.com/FileOpen/H221Earni...eID=681556

"...Net loss in FY2021 was US$7.6 million compared to US$17.6 million in FY2020..."

"...During an extraordinary general meeting held in May 2021, the shareholders have approved the capital reduction exercise to reduce the share capital of the Company by cancellation of the share capital of the Company that has been lost or is unrepresented by available assets to the extent of the amount of the accumulated losses of the Company as at 30 June 2020 of US$217,713,000. The proposed capital reduction exercise was completed in June 2021...."

PROPOSED CAPITAL REDUCTION TO REDUCE THE SHARE CAPITAL OF THE COMPANY  
"The purpose of the Proposed Capital Reduction is to write off the Accumulated Losses with a view to restructuring the finances of the Company....
4.1 The Proposed Capital Reduction is an accounting procedure that reduces the existing share capital of the Company by the amount of the Accumulated Losses to write off the Accumulated Losses...... " 
https://links.sgx.com/FileOpen/Announcem...eID=656354

[weijian]

Hi dreamybear,
You just need to look at EPS or total equity or NAV, over the years, isn't it?

[dreamybear]

Hi dreamybear,
You just need to look at EPS or total equity or NAV, over the years, isn't it?

Thanks. so that's the way from finance pt of view. Quite "investor unfriendly" to me. 

I mentioned "at a glance" - was trying to look for shortcuts for all sorts of things, given the amt of materials to go thru' every day. 

[EnSabahNur]

A legend and a trailbreaker has passed away.

RIP Mr Sim

https://links.sgx.com/FileOpen/Announcem...eID=743361

[Wildreamz]

Creative shares spike following news of CEO Sim Wong Hoo’s death
https://www.channelnewsasia.com/business...ks-3184436

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Rest in peace. He was a tech pioneer who inspired a generation.

Interesting reaction from the market.

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RIP. 


https://yeokhengmeng.com/2015/02/book-re...-wong-hoo/

chomolungma
when I saw his photo shot of chomolungma, it's so peaceful, so serene.

when I read about how unplanned is this trip (next day after IPO, first flight out), ideas sparkled in my mind.

when I think about the helicopter ride and yak ride, an unstoppable adventure spirit warm in my heart.

his near death experience, reminded me to be careful, to be happy and to live life to the fullest. 

thank you.

donation
my habit of donation or I should says "strategy", was greatly influenced.

all these years, I had the habit of donating when ever I received a donation form.  Then, there was a time that our donations was channeled to something that does not benefit the people whom we thought should be the beneficiary. With this, I decided that instead of donating to (all/any) random organisation, I should hold off my random donation and wait till year end and choose one charity organisation and donate a big(er) sum.

this change does not work for me. I felt bad, something is wrong and I can't put my finger on it.

when I read and understand what should/would be the right amount to donate, I reverted back to my original strategy and that, had been what I'm doing all these years.

thank you.

Gratitude.