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Hitachi CE Reports Higher Q3 Sales

2/05/2008 09:50:00 AM Eastern

Tokyo — Hitachi’s digital media and consumer products unit reported a double-digit sales gain and a reduced operating loss in its fiscal third quarter, ended Dec. 31.

Revenues for the unit, which sells flat-panel TVs, optical disk drives and home appliances worldwide, had revenues of $3.61 billion, up 11 percent year-on-year. All three product categories, and others sold by the division, showed growth during the quarter, the company said.

Hitachi reported that its operating loss was reduced by $35.1 million, to $132 million, due to “fewer unprofitable products and an improvement in home appliances and growth in optical disk drive[s].”

During the fiscal third quarter Hitachi overall reported revenues of $23.7 billion, a 9 percent gain and net income of $110 million, a triple-digit gain vs. the same quarter in the previous year. Overall sales to North America during the quarter were down 10 percent to $2.2 billion.