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Thomson Q3 CE Segment Sales Decline

10/25/2004 10:35:00 AM Eastern

Paris — Third-quarter revenue for the industry and consumer solutions segment at Thomson, which includes CE products, declined to $763 million from $1.4 billion. At constant currency, third-quarter CE segment sales were $998.5 million.

Excluding acquisitions, discontinued/transferred activities and currency movements, adjusted CE segment sales hit $1.1 billion in the third quarter of 2003, but dropped 7 percent year-on-year, reaching $993.5 million, adjusted for constant currency.

Thomson reported licensing revenue for its industry and consumer solutions segment dropped to $63.4 million in the third quarter, down from $76.1 million in the same three months the previous year.

Revenue in the consumer businesses — such as accessories, marketing and sales services and other consumer products — decreased by 2 percent in the third quarter, excluding currency movements and adjusted for discontinued/transferred activities. Overall, revenue from these businesses accounted for 44 percent of the company’s industry and consumer solutions segment sales.

The company reported consolidated net sales of $2.3 billion in the third quarter, down from $2.5 billion in the year-ago three months. In order to establish a like-for-like comparison, reported revenue has been adjusted for TV deconsolidation and other underlying factors and acquisitions.

Adjusted for currency movements and all perimeter impacts and discontinued or transferred activities, consolidated net sales increased 8 percent in the third quarter, hitting $2.36 billion, up from $2.18 billion in the same quarter a year ago.