Creative Technology Ltd. reported unaudited consolidated earnings results for the first quarter ended September 30, 2016. For the quarter, the company reported sales, net of $17,252,000 compared to $222,511,000 a year ago. Loss before income tax was $6,161,000 compared to loss of $13,875,000 a year ago. Net loss attributable to equity holders of the company was $6,211,000 or $0.09 per basic and diluted share compared to net loss of $13,927,000 or $0.20 per basic and diluted share a year ago. Net cash used in operating activities was $8,402,000 compared to $18,570,000 a year ago. Purchase of property and equipment was $21,000 compared to $13,000 a year ago. Net sales for the first quarter of financial year 2017 decreased by 23% compared to the same quarter in financial year 2016. Revenue was lower in the first quarter of financial year 2017 due to the uncertain and difficult market conditions which continued to affect the sales of the Group's products. The company reported net asset value per ordinary share of $1.30 as at September 30, 2016.

The Group expects an improvement in operating results for the quarter from the current level.