Sharp CE Segment Sales Increase By 13.9%

By Jeff Malester -- TWICE, 8/9/2004

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JVC CE Sales Edge Down 2% In Q1

OSAKA, JAPAN — Sharp's fiscal first-quarter sales in its audio-visual communications segment rose 13.9 percent to $1.9 billion, up from $1.7 billion last year, due to sales increases in large-size, wide-screen LCD televisions and camera-equipped mobile phones.

Operating income for the audio-visual communication segment, mainly consumer electronics, increased 4.3 percent, reaching $66.4 million in the first quarter, ended June 30, up from $63.6 million year-on-year.

Sharp, which is considered among the world's largest makers of LCD televisions, saw its LCD color monitor and digital copier/printer business help push up first-quarter sales of the company's information equipment segment 8 percent to $901.6 million from $834.5 million in the same three months in 2003. Operating income for the information equipment segment in the first quarter jumped 8.8 percent to $44.7 million from $41.1 million.

Overseas sales at Sharp during the first quarter moved up 17 percent, hitting $2.6 billion, compared with $2.2 billion in the same three months a year earlier.

Utilizing "assertive initiatives" to improve its competitiveness in the first three months, Sharp ratcheted up its consolidated sales 17.5 percent to $5.4 billion from a year-on-year $4.6 billion.

Consolidated operating income for the quarter climbed 22.1 percent, hitting $318.9 million, up from $261.2 million in the same quarter in 2003. Net income came in 39.3 percent higher in the first quarter, at $176.4 million, compared with $126.6 million in the year-ago period.

JVC CE Sales Edge Down 2% In Q1

YOKOHAMA, JAPAN— Victor Company of Japan said weak sales of digital video cameras in the Americas, despite a solid business for car electronics, helped push overall consumer electronics sales down 2 percent in the company's fiscal first quarter.

Sales dipped from $1.30 billion in the first three months of 2003 to $1.28 billion in the same time frame this year.

Overseas, JVC saw consolidated first quarter net sales fall 7.9 percent year-on-year, from $1.3 billion, to $1.2 billion, due to the slump in the United States and the impact of unfavorable exchange rates.

Although JVC's consumer electronics business faired much better than all other company business segments in the first quarter, ended June 30, CE products sales could not stem a consolidated sales decline of 11 percent in the three months, down to $1.8 billion from $2 billion in the same period in 2003.

While JVC recorded first-quarter declines in sales volume and sales prices, company costs improved, fixed costs were pushed down and foreign exchange rates were more favorable — helping to bolster earnings.

Consolidated operating income during the period jumped 16 percent, hitting $25.9 million, compared with $22.4 million in the same three months a year ago. Net income in the first quarter soared to $9.5 million from $.07 million year-over-year.