Creative Announces Q4 FY07 Financial Results

-Net income for the 2007 fiscal year was $28.2 million, compares to a net loss of $118.2 million for the previous fiscal year.

-Operating expenses has been reduced to $51.3 million, with inventory reduced by 12 percent. Cash position remains strong at $250 million (after paying off $75 million in long term debt).

-Creative’s largest market continues to be Europe, followed by the US and then Asia and the rest of the world.

-Creative is market leader in flash-based players (iPod Nano, ZEN Stone Plus etc.) and will be transitioning away from HD player to focus on higer-end flash based player (16GB ZEN V Plus).

-Creative’s Made for iPod products (Xmod, Xdock, X-Fi Sound System i600, Playdock i500 and Travelsound i) will start retailing at Apple stores this week.

The earning release is available here.

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