Toshiba Reports Lower Fiscal Q1 Net Sales

By TWICE Staff -- TWICE, 7/28/2011

Tokyo - Toshiba reported lower net sales with net income being unchanged during its fiscal first quarter, ended June 30.

The Japanese earthquake, problems in the U.S. and European economies have hurt sales, Toshiba indicated.

Net sales were 1,326.1 billion yen ($16.4 billion), a decrease of 125.3 billion yen. Consolidated operating income was 4.1 billion yen ($50.9 million), a decrease of 29.7 billion yen compared with the prior year's first quarter.

Net income was 0.5 billion yen, unchanged from last year's first quarter.

In its digital products segment, net sales were down 10 percent to 522 billion yen. Operating income decreased 10.6 billion yen.

The segment had lower sales, reflecting the yen appreciating; sluggish sales in its visual products business and in the PC business in Europe and the U.S.; and weak storage products sales, primarily in optical disc drives. Operating income was down due to lower sales in visual products and storage products, the company said.