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Technology Stocks : Creative Labs (CREAF) -- Ignore unavailable to you. Want to Upgrade?

To: Terry Jackson who wrote (11638)	6/12/1998 2:45:00 PM
From: Market Tracker	Respond to of 13925

Creative Tech warns, share plummet By Barbara C. Costanza, CBS MarketWatch 04:59 PM June 11, 1998 LOS ANGELES (CBS.MW) -- Shares of Creative Technology Ltd. (CREAF) closed down 16 percent Thursday after the computer graphics software firm warned fourth-quarter revenue and gross margins will miss expectations. Creative Tech said revenue is expected to drop 10 percent from the year-ago period. Originally, the company expected revenue to run flat with the year-ago period total of $280 million. Gross margins will be in the mid-20 percent range, down from the expectations of 30 percent. Creative Tech blamed a collapse of prices in the low-end and mid-range 2D/3D graphics market a delay in shipment of its new Sound Blaster Live! product, price reductions on older audio products and the turmoil in Asian markets for the shortfall. Chairman Sim Wong Hoo said the setbacks are temporary and will not change the company's previous guidance to analysts for fiscal 1999. FWIW MT