San Antonio — The Progressive Retailers Organization was at the Westin La Cantera Hill Coun
Benton Harbor, Mich. – Whirlpool said currency fluctuations, restructuring charges and lower tax credits in Brazil contributed to a 40 percent drop in fourth-quarter net earnings, to $122 million.
Net sales for the three months, ended Dec. 31, slipped 2.4 percent, to $4.8 billion.
The nation’s largest majap maker said profits improved considerably on an apples-to-apples basis, and sales rose 2 percent, thanks to higher wholesale prices, a greater mix of high-margin products, productivity improvements, and the benefits of cost-cutting and factory closures.
Stamford, Conn. — Harman International Industries reported lower sales and income during its fiscal first quarter, ended Dec. 31, 2012, and said it would issue layoffs of 500 employees.
Net sales for the second quarter were $1.056 billion, a decrease of 6 percent compared with the same period last year. In local currency, net sales decreased by 4 percent compared with the same period last year, primarily as a result of the economic slow-down in Europe, which significantly impacted automotive production.
Indianapolis – Weak TV sales and higher costs for store openings and home delivery took a bite out of hhgregg’s holiday quarter results.
Net earnings declined 22.6 percent to $17.4 million for the three months, ended Dec. 31, while net sales decreased 3.6 percent to $799.6 million and same-store sales fell 9.7 percent year over year.
The multi-regional CE, majap and furniture chain said same-store sales were primarily impacted by a 24.6 percent decline in video category comp sales, reflecting a double-digit decrease in unit volume.
San Francisco — Dolby Laboratories reported higher revenue but lower net income in its fiscal first quarter.
For the fiscal first quarter, Dolby reported total revenue of $236.6 million, compared with $234.2 million for the first quarter of fiscal year 2012.
First-quarter GAAP net income was $51.3 million, compared with $73.2 million for the first quarter of fiscal year 2012. On a non-GAAP basis, first-quarter net income was $66.4 million, compared with $83.1 million for the first quarter of fiscal year 2012.
Seoul, South Korea — LG Electronics reported a net loss due to a European Commission fine and slightly lower sales, but it recorded higher operating profits during the fourth quarter.
Unaudited consolidated financial results for the fourth quarter ending Dec. 31, showed a net loss of 468 billion Korean won ($428.96 million), which reflects a fine related to alleged CRT pricing issues imposed by the European Commission in December. The net loss for the prior year’s fourth quarter was 112 billion won.
Seoul, Korea – Samsung Electronics reported higher sales and profits for the fourth quarter ended Dec. 31, 2012.
Revenues were 56.06 trillion Korean won, a 7-percent increase quarter on quarter. Consolidated operating profit for the quarter hit 8.84 trillion won, a 10-percent increase on quarter, while consolidated net profit for the same quarter was 7.04 trillion won.
Redmond, Wash. – Microsoft reported higher revenue, but lower operating and net income during its fiscal second quarter ended Dec. 31.
Quarterly revenue was $21.46 billion for the quarter compared to $20.88 billion year on year, while operating income was $7.77 billion, lower than the prior year’s $7.99 billion and net income of $6.38 billion which was lower than the prior year’s $6.62 billion.
Dallas – AT&T activated more iPhones and more smartphones in the fourth quarter than in any previous quarter, the company announced.
The carrier sold 8.6 million iPhones in the quarter, exceeding the previous quarterly record of 7.6 million in the fourth quarter of 2011. Total smartphone activations of 10.2 million in the fourth quarter exceeded the year-ago quarter’s activations by 800,000. Sixteen percent of the quarter’s iPhone activations were new subscribers to AT&T.
Cupertino, Calif. – Apple reported $54.5 billion in quarterly revenue and a net profit of $13.1 billion in its fiscal first quarter ended December 29, 2012, but that didn’t seem like enough for Wall Street.
While revenue was a quarterly record topping the prior year’s first quarter revenue of $46.3 billion and net profit last year was the same as this year’s opening quarter - $13.1 billion Apple’s stock price sank in early trading.
Espoo, Finland — Nokia posted a fourth-quarter consolidated operating profit of 439 million euros ($586.2 million), reversing a year-ago loss of 954 million euros ($1.27 billion) and interrupting a string of six consecutive quarterly losses.
The company’s full-year operating losses, however, grew to 2.3 billion euros ($3.07 billion) from the previous year’s loss of 1.1 billion ($1.47 billion).