By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Hauppauge, N.Y. — Voxx reported a double-digit sales gain and relative flat profits in its fiscal year, ended Feb. 28.
Net sales for the fiscal year were $835.6 million, an increase of 18.2 percent when compared with net sales of $707.1 million reported for the prior fiscal year.
Net income in fiscal 2013 was $22.5 million as compared with net income of $25.6 million for the prior year. Operating income was $41.7 million for the year, compared with $43.9 million in the comparable year-ago period.
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.
Osaka, Japan — Sharp Electronics reported a wider loss on flat sales for its fiscal year, ended March 31 and has replaced its president.
The net loss was 545.3 billion yen for the year, compared with a net loss of 376 billion yen in the prior year. Operating loss was 146.7 billion yen compared with the prior year’s 37.5 billion yen loss. Net sales were up 0.9 percent to 2,478.5 billion yen for the year.
Tokyo — Pioneer Electronics reported higher net sales but lower operating profits and a net loss for its fiscal year, ended March 31.
Consolidated net sales grew 3.5 percent year on year, to 451,841 million yen, due to increased OEM sales of car navigation systems and consumer-market sales of car audio products.
Operating income declined 52.1 percent year on year, to 5,997 million yen, due to an increase in selling, general and administrative (SG&A) expenses and a lower gross profit margin, among other factors.
Osaka, Japan — Panasonic reported a loss of 754.3 billion yen ($7.42 billion) for fiscal 2013, which ended in March.
In fiscal 2012, the company reported a 772.2 billion yen loss. The company said sales for fiscal 2013 declined 7 percent from the previous year, to 7.3 trillion yen ($71.9 billion).
Panasonic is in the midst of a major restructuring effort to improve its profit performance, but the company said that, thus far, the results were below expectations.
El Segundo, Calif. – DirecTV Tuesday reported a 5.6 percent decline in first-quarter profits but still managed to tally subscriber gains in Latin America and the United States.
The company reported earnings of $690 million, last quarter, compared with a $721 million profit from the year-ago period.
But on an adjusted basis, earnings rose to $826 million. Revenue rose 8 percent to $7.58 billion.
DirecTV reported a $166 million charge tied to the devaluation of Venezuelan currency earlier this year.
Tokyo — Nikon reported that net sales rose, but net and operating profits were down by double digits for its fiscal year, ended March 31.
Nikon said in its imaging products business, the interchangeable-lens market climate “took a sharp turn for the worse from the middle of the third quarter. Additionally, the compact digital camera market continued to shrink.” Sales for its precision equipment instruments business were also off.
Tokyo — Sony recorded a net profit, based on reduced TV losses and sales of facilities, and higher sales for its fiscal year, ended March 31.
Net income was $458 million, or 43 billion yen, compared with a net loss the prior year of 456.7 billion yen. Operating income for the year was 230.1 billion yen, or $2.5 billion, compared with an operating loss of 67.3 billion yen in the prior year.
Issaquah, Wash. — Strength in CE contributed to a 7 percent increase in Costco’s April sales.
Net sales were just shy of $8 billion for the four weeks, ended May 5, and U.S. comp sales rose 4 percent excluding gasoline.
The No. 1 warehouse club cited consumer electronics as one the “better performing” categories within its hardlines sector.
Harrisburg, Pa. — D&H Distributing, the 95-year old privately held CE and computer products distributor, reported 8 percent sales growth in its fiscal year, ended April 30, due to sales of mobility products.
D&H said its sales performance is more than three times the organic growth rate achieved by consumer electronics distribution in general over the past year.
Bellevue, Wash. — T-Mobile USA posted first-quarter net income of $107 million following two consecutive quarters of net losses and gained more net new subscribers in the quarter than it did in all of 2012.
The first-quarter’s net income to $107 million, however, was still 47 percent below that of the year-ago period but better than the fourth quarter’s $8 million net loss and the third quarter’s $7.7 billion net loss, which was due to a one-time $8.1 billion good-will impairment charge triggered by the planned merger of MetroPCS and T-Mobile.