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Creative Technology fiscal Q3 loss narrows YOY

Creative Technology Ltd said its normalized net income for the fiscal third quarter ended March 31 amounted to a loss of 5 cents per share, compared with a loss of 12 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $3.1 million, compared with a loss of $8.3 million in the prior-year period.

The normalized profit margin increased to negative 16.9% from negative 36.6% in the year-earlier period.

Total revenue fell 18.8% year over year to $18.5 million from $22.7 million, and total operating expenses fell 17.4% on an annual basis to $24.7 million from $29.9 million.

Reported net income came to $4.0 million, or 6 cents per share, compared to a loss of $11.7 million, or a loss of 17 cents per share, in the year-earlier period.