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Toshiba CE Posts Higher Sales In Fiscal Q3

1/31/2011 10:52:51 AM Eastern
Tokyo - Toshiba's digital products segment reported higher sales but lower operating profit in its fiscal third quarter, ended Dec. 31, 2010.

Digital products sales were up 4 percent during the quarter to 663.4 billion yen while operating profits were down 4.2 billion yen to 2.7 billion yen.

Toshiba reported that the digital products segment had overall higher sales due to TVs and video in general both in Japan and in overseas markets. The PC business also had increased sales in both markets, but the storage products business had lower sales reflecting the impact of price erosion.

Operating income decreased during the quarter due to a loss for the storage products business. PC and video products posted higher operating income mainly due to higher sales and getting lower materials prices, the company said.

Overall company performance during the fiscal third quarter was up in net sales and net income. Net sales were 1,588.5 billion yen ($19.6 billion), an increase of 25.2 billion yen compared with the prior year's quarter. Net income was 12.4 billion yen ($152.7 million), an increase of 23 billion yen.
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