New York — The Anti-Defamation League’s National Consumer Technology Industry divisio
Osaka, Japan — Panasonic reported higher operating profit and net income, but CE sales were down as the company emphasized profitability in its fiscal first quarter, ended June 30.
Operating profit increased to 64.2 billion yen, from 38.6 billion yen a year ago, due mainly to fixed cost reduction, including a decrease in bonuses and positive impact of yen depreciation.
Net income rose to 107.7 billion yen, from 12.8 billion yen the prior year, mainly on a one-time gain of 79.8 billion yen from pension plan changes incurred as other income.
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.
Overland Park, Kan. — Sprint said Sprint Nextel had a deeper loss in the fiscal second quarter but reported record quarterly Sprint platform wireless service revenue of $7.2 billion and continued growth in Sprint platform postpaid subscribers.
Net operating revenues for the quarter were $8.87 billion, up from the prior year’s $8.84 billion, and its operating loss was $874 million, up from $629 million. The net loss was $1.59 billion, up from the prior year’s $1.37 billion.
Miami— No-contract cellular MVNO TracFone Wireless posted double-digit percentage gains in revenues and operating profit in the second quarter even though its subscriber base shrank by 192,000.
The subscriber base fell to 23.04 million from 23.23 million because the MVNO implemented “more strict churn policies,” the company said in referring to the dropping of inactive accounts. Despite the drop, the MVNO’s subscriber base was 8 percent higher compared to the year-ago quarter.
Chicago – Cobra Electronics blamed the continued poor worldwide economic performance along with legal expenses for its $1.9 million drop in income on sales of $25.6 million for the second quarter, ended June 30.
The $1.9 million income fall off was down from the $902,000 in net income generated during the same period last year and consolidated sales were down about $3.5 million from 2012.
Seoul, South Korea — Samsung Electronics reported a record second-quarter net profit, up 50 percent year over year, attributed to strong smartphone sales.
The company reported 9.53 trillion won ($8.5 billion) in operating profit on revenues of 57.46 trillion won ($51 billion) for the quarter ended June 30. Sales were up 21 percent year over year.
Samsung said net profit for the quarter hit a record 7.77 trillion won ($7 billion), up from 5.19 trillion won in last year's Q2, topping the previous record of 7.15 trillion won in the fiscal first quarter.
Seattle - Amazon.com reported 22 percent higher sales but a $7 million net loss in the second quarter ended June 30.
Net loss was $7 million in the second quarter compared with net income of $7 million in second quarter 2012.
Net sales increased 22 percent to $15.70 billion in the second quarter, compared with $12.83 billion in second quarter 2012. Excluding the $392 million unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales grew 25 percent compared with second quarter 2012.
Zurich, Switzerland -- Logitech International surprised Wall Street and turned a profit in its fiscal first quarter.
Net income came in at $1 million, compared with a net loss of $51 million in last year's Q1.
The company reported sales of $478 million for the quarter, up 2 percent year over year. Gross margin surged to 35.2 percent, up from 31 percent a year ago.
Logitech’s retail sales for Q1 increased by 8 percent over the prior year. OEM sales decreased by 6 percent and sales for the company's LifeSize division decreased by 18 percent.
Santa Ana, Calif. – Ingram Micro reported higher net sales and net income for the second quarter ended June 29.
Net sales were $10.3 billion, higher than net sales of $8.77 billion in last year’s second quarter. Net income was $69.7 million, higher than last year’s second quarter of $61.3 million
Tokyo – A global economic slowdown, especially in China, forced Canon to cut its profit forecast for the year Wednesday as it lowered sales targets on high-end and point-and-shoot cameras.
In its quarterly earnings report, Canon lowered its operating profit forecast 16 percent to $3.81 billion (380 billion yen), from its April estimate.
Net income was forecast at 260 billion yen in 2013, down 10 percent from projections of 290 billion yen in April.
Dallas – AT&T’s wireless operating revenues rose in the second quarter, but operating income margin fell and the wireless segment posted lower net income.
Wireless operating income was up 5.7 percent in the second quarter to $17.3 billion and 4.6 percent for the half to $34 billion, but operating income margin fell to 27.1 percent from a year-ago 31 percent and from the first quarter’s 27.8 percent because of second-quarter record activations of 6.8 million smartphone, which are highly subsidized.