By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Bellevue, Wash. – T-Mobile USA’s net new subscriber additions surged in its second quarter on the strength of its LTE rollout, aggressive “uncarrier” strategy and iPhone launch, but the initiatives produced a sharp rise in operating expenses that produced an operating loss and net loss for the quarter.
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.
Port Washington, N.Y. – IT reseller Systemax reported a $6.1 million loss in its second quarter, compared to a $2.3 million loss for the year-ago period.
Net sales for the three months ended June 30 declined 5 percent to $805.8 million; consumer sales, which represent 34.5 percent of the mix, fell 15.3 percent to $278.2 million; and consumer comp sales decreased 15.5 percent.
Naperville, Ill. — OfficeMax said a 4.3 percent decline in second-quarter net sales, to $1.5 billion, contributed to a $10 million loss for the period, ended June 29.
The No. 3 office-supply chain also reaffirmed previously reported progress toward a planned merger with Office Depot by year’s end.
San Diego — Leap Wireless International reported declining revenue for the second quarter of 2013, ended June 30.
Leap was acquired by AT&T last month.
Total revenues for the second quarter of 2013 decreased 7 percent to $731.5 million when compared with the prior-year period. Service revenues decreased 9.7 percent: $731.5 million in the second quarter vs. the prior-year’s $786.8 million.
Osaka, Japan — Sharp Electronics reported higher sales and posted an operating profit and reduced net loss in its fiscal first quarter, ended June 30.
Sales were up 32.6 percent to 607.9 billion yen. Operating income was 3 billion yen, compared with the prior year’s operating loss of 94.1 billion yen, and the net loss was 17.9 billion yen, down from the 138.4 billion yen loss in the prior year.
Indianapolis — hhgregg narrowed its first-quarter loss as slightly positive comps and lower costs helped offset decreased profits from CE, computers and wireless.
The multiregional CE, majap and bedding chain reported a $1.3 million loss for the three months, ended June 30, compared with a $5.7 million loss last year. Net sales rose 7.2 percent to $524.9 million, and comps returned to positive territory, edging up 0.8 percent year over year.
Tokyo — Sony returned to profitability in its fiscal first quarter, thanks in part to posting a profit in its TV business and favorable foreign exchange rates.
In its quarter, ended June 30, Sony net income was 3.5 billion yen ($35 million) compared with the prior year’s loss of 24.6 billion yen. Operating income increased 30.1 billion yen from the prior year’s first quarter to 36.4 billion yen ($367 million.)
Sales and operating revenue rose 13 percent to 1,712.7 billion yen ($17.3 billion) year on year, Sony reported.
Schaffhausen, Switzerland — Garmin reported slumping net sales for its fiscal second quarter, ended June 29.
Total revenue was $697 million in the quarter, down 3 percent from $718 million in the prior-year period. Broken out by category, sales were up 6 percent in outdoor ($106.9 million vs. the prior year’s $100.5 million) but down 12 percent in automotive/mobile ($344.7 million vs. $392.1 million).
Sales were up 16 percent in aviation, 3 percent in fitness and 7 percent in marine.
Tokyo — Toshiba’s digital products segment reported lower sales and an operating loss in its fiscal first quarter, ended June 30.
Sales for the segment were down 1 percent year on year to 334.5 billion yen. The operating loss was 16.3 billion yen, 13 billion more than the prior year’s fiscal first quarter.
Toshiba said, “Even though the visual products business, which includes LCD TVs, is on path for recovery in Japan, it also recorded a decrease on slumping sales in the United States and Europe.”
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.