By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Cupertino, Calif. – Apple reported higher fiscal first quarter sales and operating profit, driven by iPhone and iPad sales, but flat net profit for the quarter ended Dec. 28, 2013.
Apple posted record quarterly revenue of $57.6 billion compared with $54.5 billion in the prior year’s opening quarter.
Quarterly net profit of $13.072 billion was posted, flat with the prior year’s $13.078 billion. Operating profit was $17.5 billion in the quarter compared with the prior year’s $17.2 billion.
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 ― LG Electronics reported higher revenues, as well as higher net and operating profits in its fiscal year, ended Dec. 31, 2013.
LG reported consolidated revenues of 58.14 trillion Korean won (KRW) ($53.1 billion) for the year compared with 55.12 trillion KRW for 2012.
Net profit was of 222.7 billion KRW ($203.65 million) for full-year 2013, marking an improvement over 2012 results from 102.8 billion KRW, LG said.
San Francisco – Dolby Laboratories’ revenues for the first quarter of fiscal 2014 fell 2.3 percent to $231.1 million but nonetheless exceeded projections, the company announced.
“We're pleased to report that 2014 is off to a strong start with first quarter revenues higher than originally projected and a great reception to the introduction of Dolby Vision at the Consumer Electronics Show,” said president/CEO Kevin Yeaman. “We are excited about our pipeline of new offerings and are confident they will contribute to long term growth."
Seoul, South Korea — Samsung Electronics reported higher sales and net profits in the fourth quarter, ended Dec. 31, 2013.
Net sales were 59.28 trillion Korean won (KRW), up from the prior year’s fourth-quarter sales of 56.06 trillion KRW. Net profits were 7.30 trillion KRW in the quarter compared with the prior year’s 7.04 trillion KRW. Operating profits were lower in the quarter, to 8.31 trillion KRW, down from 8.84 trillion KRW in last year’s fourth quarter.
Redmond, Wash. — Microsoft reported record fiscal Q2 revenue and higher net and operating income year on year for the quarter, ended Dec. 31, 2013.
Revenue was $24.52 billion up from the prior year’s $21.5 billion. Net income was $6.55 billion, up from the prior year’s $6.37 billion, and operating income was $7.96 billion for the quarter, up from the prior year’s $7.77 billion.
Newark, Calif. — Logitech is no longer selling off its video-security division, a spokeswoman confirmed to TWICE. The company announced its financial results yesterday, displaying some turnaround progress with a sales uptick of 2 percent for its fiscal third quarter.
According to Nancy Morrison, Logitech corporate communications VP, the company did not find the right buyer for the division and is no longer planning to sell it. Logitech will still maintain the service and offer cameras for sale, she said.
Seoul, South Korea – LG Display reported lower sales and earnings for the fourth quarter, ended Dec. 31, 2013.
Revenues in the fourth quarter of 2013 decreased by 19 percent to 7,079 billion Korean won (KRW) from 8,743 billion KRW in the fourth quarter of 2012.
Operating profit in the fourth quarter of 2013 was 257 billion KRW, a year-on-year decrease of 56 percent from the operating gain of 587 billion KRW.
Bedminster, N.J. — Verizon Wireless grew its operating income by 30 percent in the fourth quarter and 19.4 percent for the year on single-digit gains in operating revenue in both periods.
The operating-income gains came from rising operating margins, rising average revenue per account, an expanded subscriber base, and a growing base of 4G LTE subscribers, whose data consumption rises as they switch to faster 4G phones.
Waterloo, Canada – BlackBerry’s operating and net losses surged in its fiscal third quarter as the company, vowing to remain in the smartphone market, said it entered into an agreement with Foxconn to manufacture a consumer smartphone for Indonesia and for other fast-growing markets early next year.
Issaquah, Wash. – Costco’s U.S. comp sales edged up 3 percent in November, blunted in part by a downturn in CE.
The No. 1 warehouse club said CE comps were negative for the month, continuing a recent reversal in what had been steady category growth through most of this year and last.
Total revenue rose 5 percent in November, to $8.9 billion, and also increased 5 percent for the three months ended Dec. 1, to $24.5 billion. U.S. comps for the quarter were up 4 percent excluding gasoline.