twice connect

Hitachi CE Sales Rise 11%

2/03/2006 09:16:00 AM Eastern

Tokyo — The digital media and consumer products business at Hitachi, mainly consumer electronics, increased 11 percent in the company’s fiscal third quarter, coming in at $3.1 billion, up from $2.8 billion in the year-ago period.

The company cited growing sales of plasma TVs and other digital media products, and higher sales at Hitachi Maxell, for the increase.

However, Hitachi’s digital media segment reported a wider operating loss for the third quarter, ended Dec. 31, growing to $49 million, compared with a year-on-year loss of $15.1 million. The operating loss was due to a decline at the company’s plasma display-making subsidiary, as well as a large gain in 2004 from sales of securities.

For the nine months, digital media business sales were flat, inching upward to $8.25 billion, from $8.21 billion. The business recorded an operating loss for the nine months, coming in at a negative $187 million, compared with operating income of $74.6 million year-on-year.

Sales in North America rose 7 percent in the third quarter, hitting $2.2 billion, up from $2 billion in the same period in 2004.

For the nine months Hitachi North American sales moved up 4 percent to $6 billion from a year-ago $5.8 billion.

Consolidated Hitachi revenue in the third quarter increased 6 percent to $19.1 billion, from $17.9 billion the previous year, thanks, in part, to higher sales of flat-panel television and other CE products.

Operating income for the three months rose 14 percent to $332 million, from $290.5 million on higher earnings in a number of businesses. However, net income plunged 79 percent in the third quarter to $47 million from a year-earlier $225.4 million, due mainly to a loss in the company’s hard disk-drive operations as well as the lack of certain securities’ gains enjoyed the previous year.

For the nine months, consolidated Hitachi revenue increased 3 percent to $56.5 billion, from $54.5 billion the prior year.

Operating income dropped to $991 million from $1.4 billion, while the company posted a net loss of $46 million for the nine months, compared with operating income of $573 million the previous year.

ProSource Meeting Filled With Optimism

San Antonio — Optimism reigned at ProSource’s

Ingram Draws 500 To Spring Vendor Expo

Scottsdale, Ariz. — Ingram Micro Consumer

CEA Holds ’14 Digital Patriots Dinner

Washington — CEA held its annual Digital Patriots’

8 Technology Accessories For a Greener Earth

An Earth Day review of Earth-friendly products, by

BrandSource Shows Diverse Product Selection

BrandSource’s Summit show at the Marriott World

Scenes From Toy Fair

By Lisa Johnston

ADL Honors Morales, Bilas, Paull, Weedfald At Annual Dinner

New York — The Anti-Defamation League’s National