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Toshiba CE Biz Increases In 1st Half

10/28/2005 08:29:00 AM Eastern

Tokyo — First half sales in the digital products business at Toshiba jumped 9 percent, hitting $10.1 billion, up from a year-ago $9.2 billion.

Digital products, mainly consumer electronics, saw higher sales of PCs, high end and commodity model mobile phones and office equipment.

The digital products business reported $57.8 million in operating income for the six months, ended Sept. 30, compared with a loss of $111.2 million in the same period last year. Digital products were bolstered by continued progress in restructuring of the PC business and improvement in the mobile phone and storage devices businesses. DVD recorders reported deterioration in operating income due to price erosion.

First half sales in North America increased 7 percent, hitting $3.43 billion, up from $3.20 billion in the same period in 2004. Operating income in North America over the first six months reached $65.3 million, compared with a year-on-year $58.7 million.

Second quarter sales for Toshiba’s digital products business increased 12 percent, coming in at $5.5 billion, up from $5 billion a year earlier. The company reported operating income for this business of $52.3 million in the second quarter, compared with a loss of $19.4 billion in the same three months the prior year.

Consolidated Toshiba sales in the first half rose 4 percent, to $25.1 billion, from $24.1 billion, while net income jumped 75 percent, hitting $126.5 million, compared with a year-ago $72.8 million.

In the second quarter, consolidated sales climbed 4 percent, to $13.87 billion, from a year-ago $13.29 billion. Net income soared 46 percent, to $204.1 million, from $139.9 million, boosted by growing sales of flash memory chips and the company’s improved PC operation. Toshiba also is enjoying increasing demand for chips used in digital cameras and portable music players.

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