By Lisa Johnston
New products on display at the American International Toy Fair, held in N
New York — SiriusXM posted its best-ever quarterly revenues in the third quarter and best third quarter for net new subscribers since the Sirius-XM merger five years ago, prompting the satellite-radio company to raise its full-year forecast for revenues and net subscriber adds.
SiriuxXM cited rising OEM penetration rates as a key reason for the gains as well as growth in reactivations in pre-owned cars.
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.
Dallas – AT&T’s wireless operating income rose 3.4 percent in the third quarter to $4.6 billion on a 5.1 percent gain in operating revenues to $17.5 billion.
The wireless operating margin slipped to 26.4 percent from the year-ago 26.9 percent because of the cost to build out the LTE network and record smartphone sales, which are heavily subsidized.
Fort Worth, Texas — RadioShack reported a net loss of $112 million for the third quarter, ended Sept. 30, compared with a year-ago loss of $47 million.
CEO Joe Magnacca said the red ink was a byproduct of the company’s ongoing turnaround efforts, as it consolidated its product assortment and racked up higher inventory costs.
Mountain View, Calif. – Third-quarter operating losses at Google’s Motorola unit shrank on a sequential and year-ago basis but were up for the first nine months of the fiscal year.
Revenues for both periods were down more than 30 percent.
Third-quarter 2013 revenues shrank 36 percent to $1.14 billion compared with the year-ago quarter and were down 34.6 percent for the nine-month period to $3.16 billion.
Seoul, Korea – LG Display reported lower revenues, but higher profits in its third quarter ended Sept. 30.
Revenues in the third quarter of 2013 decreased by 13 percent to KRW 6,579 billion from KRW 7,593 billion in the third quarter of 2012.
Net income in the third quarter of 2013 was KRW 239 billion compared with net income of KRW 158 billion in the third quarter of 2012.
Bedminster, N.J. – Verizon Wireless accelerated operating income growth subscriber additions fell.
Verizon reported in the third quarter and first nine months of its fiscal year and posted operating-revenue gains in both periods even though net new retail subscriber additions fell at double-digit percentage rates in both periods.
Operating income margins rose during the quarter and nine-month periods, though churn rates also ticked up, and average revenue per account continued to rise.
Hauppauge, N.Y. — Voxx International reported higher net earnings but slightly lower sales in its fiscal second quarter, ended Aug. 31.
Net income for the quarter was $4.9 million compared with net income of $3.7 million for the comparable period last year. Net income for this year’s fiscal second quarter was favorably impacted by funds Voxx received as part of a class action settlement and funds related to the Circuit City bankruptcy.
Taoyuan, Taiwan – HTC finally went into the red in its fiscal third quarter following seven consecutive quarters of double-digit percentage declines in net profit.
The smartphone maker’s third-quarter net loss after taxes hit NT$2.97 billion ($101.2 million) compared to a year-ago net profit of NT$3.9 billion, unaudited results show. Sales fell 33 percent to NT$47.1 billion ($1.6 billion), marking the seventh consecutive quarter of double-digit percentage declines.
Streur, Denmark – Bang & Olufsen’s global first-quarter sales slipped 5.7 percent to 566 million DKK ($103.4 million), and first-quarter losses grew 12.8 percent to 53 million DKK ($9.68 million) compared to the year-ago quarter.
The first quarter of the 2013/2014 fiscal year ended in August.
Issaquah, Wash. — Costco reported negative comp sales for consumer electronics in August.
The results mirror reports by national and independent retailers of tepid CE sales this summer, and a sluggish back-to-school season.
In contrast, the No. 1 warehouse club said net sales rose 7 percent in August, to nearly $8 billion, while U.S. comp sales increased 5 percent excluding gasoline.