By Lisa Johnston
New products on display at the American International Toy Fair, held in N
New York — SiriusXM posted record revenue in its fourth quarter and full fiscal year, but net income fell in the quarter as the company lost subscribers for the first since the second quarter of 2009.
During the quarter ending December, the company lost 22,756 subscribers because a 411,484 gain in self-pay subscribers did not offset a 434,240 loss in trial subscriptions paid by automakers.
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 – Panasonic reported higher sales and profits in the fiscal third quarter, ended Dec. 31, 2013.
Consolidated group sales in the quarter increased 10 percent to 1,973.5 billion compared with the same quarter last year. Overseas sales increased by 13 percent to 1,003.2 billion yen compared with the same quarter last year.
Bentonville, Ark. – Walmart said comp sales at its flagship discount stores and Sam’s Club wholesale chain were down slightly for the fourth quarter, ended Jan. 31, despite positive holiday comps.
The world’s largest retailer attributed the downturn to severe winter weather that impacted traffic throughout the quarter, and the sales impact of a reduction in federal food assistance benefits on Nov. 1.
Stockholm, Sweden – Electrolux North America once again posted strong gains for its fourth quarter and fiscal year, helping make up for its weak European sales.
North American fourth-quarter revenue rose 7 percent to $1.2 billion. For the year, revenue was also up 7 percent, hitting $4.9 billion. Earnings before interest and taxes rose 5 percent to $50 million, which does not include an unmentioned one-time gain for the company. Full-year profit increased 52 percent to $327 million in North America
Mountain View, Calif. – Motorola Mobility’s fourth-quarter revenue shrank 24 percent to $1.15 billion on a GAAP basis, and the Google unit’s operating losses grew 43.6 percent to $507 million, Google’s financial report shows.
For the year, Motorola’s revenues declined 32 percent to $4.31 billion, but operating losses shrank by 25 percent to $895 million.
Updated Seattle – Amazon.com reported a 146.4 percent spike in its fourth-quarter net income, to $239 million, and a full-year profit of $274 million following the prior year’s $39 million loss.
But despite the return to profitability, the e-tailer’s shares sank in after-hour trading as earnings fell short of forecasts and off-shore sales growth slowed.
Stamford, Conn. – Harman expects to book an additional $100 million in incremental revenue in its fiscal second half because of planned sales of portable speakers through an unnamed mobile telecom partner outside the U.S., the company said during an investor’s conference call.
Harman already sells select audio products through Sprint’s U.S. stores.
Benton Harbor, Mich. — Whirlpool reported fourth-quarter GAAP net earnings of $181 million, compared with net earnings of $122 million for the same prior-year period.
Sales in the quarter were $5.1 billion, compared with $4.8 billion during the same prior-year period. Excluding the impact of both foreign currency and Brazilian (BEFIEX) tax credits, sales increased approximately 7 percent, led by strong growth in North America and Latin America.
Indianapolis — hhgregg said steep holiday promotions and a lack of channel discipline within the CE industry led to falling profits and sales during its third fiscal quarter, ended Dec. 31.
Net income fell 71 percent to $5 million on net sales of $707 million, which decreased 11.6 percent from the prior-year period due to a comp-store sales decline of 11.2 percent.
Dallas — AT&T’s wireless operations posted a 53.8 percent gain in operating income in the fourth quarter on a 4.5 percent revenue as operating margins rose 21.4 percent from the year-ago 14.5 percent.
Revenues were up because of rising average revenues per subscriber, thanks to higher smartphone data usage, and to fourth-quarter retail postpaid subscriber churn that hit a record fourth-quarter low of 1.11 percent, down from a year-ago 1.19 percent.