New York — The Anti-Defamation League’s National Consumer Technology Industry divisio
Tokyo — JVC Kenwood reported lower net sales and net income in its fiscal year, which ended March 31.
Net sales were 306,580 million yen, down from the prior year’s 320,868 million yen. Net income was 1,146 million yen, down from the previous year’s 6,032 million yen.
Car electronics sales were 100,548 million yen, down from the previous year’s 107,281 million yen. Operating income was cut to 2,494 million yen from 6,346 million yen.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.
Seoul, South Korea — Samsung Electronics reported higher revenues and net profit based in part on strong smartphone sales in the first quarter, ended March 31.
Revenues were 52.87 trillion won on a consolidated basis for the first quarter compared with the prior year’s 45.27 trillion won. Net profit was 7.15 trillion won compared with the prior year’s first-quarter profit of 5.05 trillion won.
Chicago — Cobra Electronics cited lower store traffic and higher-than-expected legal expenses for its lower sales and loss for the company’s first quarter.
For the quarter, ended March 31, Cobra posted net loss of $1.5 million on sales of $21.6 million. This is down from the $339,000 profit on sales of $26.4 million generated during the same period last year.
The legal expenses were related to patent legal claims, the company said.
Seattle – Continued investments in content and the impact of unfavorable foreign exchange rates let to a sharp drop in Amazon.com’s first-quarter earnings.
Net income fell 37 percent to $82 million for the three months, ended March 31, while net sales climbed 22 percent to $16 billion. A $302 million impact from unfavorable exchange rates shaved 2 percentage points from the sales tally.
Operating income slipped 6 percent to $181 million, reflecting a $12 million hit from the currency fluctuations.
Santa Ana, Calif. — Ingram Micro reported higher worldwide sales but lower net and operating income for the first quarter, ended March 31.
Worldwide sales were $10.26 billion, up 19 percent in U.S. dollars when compared with $8.64 billion in the first quarter last year. The company's 2012 fourth-quarter acquisitions of BrightPoint and Aptec Holdings added $1.1 billion and $75 million, respectively, to 2013 first-quarter revenue, contributing 13 percentage points to the growth.
Tokyo – Canon reported its operating profit and net income dropped in the double digits for its fiscal first quarter, ended March 31.
Operating profit dropped 33.8 percent from the same period last year to 54.8 billion yen ($551 million) as net income fell 33.5 percent to 40.9 billion yen ($411 million).
Net sales were down 1.5 percent to $8.68 billion.
Newark, Calif. — Logitech International reported yet another down quarter, with declining worldwide sales, but the computer accessories company said sales in the Americas have stabilized and it is now better positioned for growth after restructuring efforts.
Benton Harbor, Mich. — Whirlpool reported higher net earnings and flat sales in the first quarter, ended March 31.
GAAP net earnings were $252 million, compared with net earnings of $92 million share reported during the same period last year, which were driven by continued favorable product price and mix and the benefit of cost- and capacity-reduction initiatives, the company said.
Seoul, South Korea — LG Electronics shipped 10.3 million smartphones and had higher company revenues, but profits declined for the first quarter, ended March 31.
The smartphone unit sales in the quarter were the highest for LG since it entered the category, the company said, and its better-than-expected performance in LG’s mobile operations offset weaker results in the home entertainment business.
New York — AT&T reported it added 1.2 million new smartphone subscribers, and the company’s net income rose 3.2 percent to $3.7 billion during its first quarter.
The company posted operating revenues of $31.4 billion for the three months, ended March 31, compared with the same period last year.
The 1.2 million new smartphone subscribers equated to 290,000 wireless postpaid net adds for the company, which resulted in a postpaid churn improvement to 1.04 percent, the company reported.
AT&T also reported: