twice connect

Sanyo Fis. Six Month Revenue Rises 1.3%

11/20/2002 10:37:00 AM Eastern

Tokyo - Although Sanyo Electric consolidated revenue edged upward 1.3 percent in the company's fiscal first half, reaching $8.5 billion, from $8.4 billion in the first six months of 2001, net income dropped 61.5 percent in the same period, to $20.1 million, compared with $52.4 million in the year-ago period.

Helped by cost-cutting, consolidated operating income in the six months, ended Sept. 30, increased 3.6 percent, to $274 million, up from $265.6 million in the first half of fiscal 2001.

The Japanese consumer electronics maker enjoyed a slight increase in growth at its audio-visual, information and communication division - the company's largest - with a 0.2 percent year-over-year rise in revenue, to $3.4 billion. The segment reported increased sales of LCD projectors and optical pickup devices, while digital cameras saw a slight decrease in growth.

Sanyo's battery business, due to a rebound in mobile phones and personal computers, posted a sales increase of 1 percent for the six months, hitting $1.1 billion.

Overseas sales increased 12.6 percent in the first half, compared with the same period last year, to $4.2 billion, Sanyo reported.

Sanyo expects the economy to remain slow in the second half of the current fiscal year, forcing it to slash its full-year financial forecast.

The company now expects consolidated net income of $65.5 million for the 12 months, on sales of $17.1 billion. Initially, Sanyo had expected net income of $204.8 million for the year ending March 31, 2003. The 12 months revenue forecast is unchanged.

Anticipated operating income for the 12 months is $573.3 million, down from an earlier forecast of $655.2 million.

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