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Toshiba CE Sales Increase 13% In Quarter

8/02/2004 10:46:00 AM Eastern

Tokyo — Higher overseas sales of PCs, mainly in the United States, helped push up business in the digital products segment at Toshiba by 13 percent in the company’s first fiscal quarter, hitting $4.5 billion, compared with $3.9 billion in the year-ago period.

The digital products segment, mainly consumer electronics, narrowed its operating loss in the first quarter, ended June 30, due to a series of restructuring measures taken over the last year which produced “solid improvement” in the PC business performance. The segment’s operating loss declined to $98.1 million, compared with a loss of $156.2 million in the same three months in 2003.

Toshiba sales to North America also climbed 13 percent in the first quarter, reaching $1.4 billion, up from $1.2 billion in the same period a year ago. Then company moved into the black concerning sales in North America, recording operating income of $4.4 million in the region, compared with a loss of $54.1 million year-on-year.

Consolidated first quarter Toshiba sales jumped 12 percent, hitting $11.6 billion, up from $10.1 billion in the first quarter a year earlier.

Consolidated operating income turned black in the first three months, reaching a positive $131 million, compared with a loss of $371.9 million in the first quarter of 2003. The net figure remained on the negative side, although the loss was narrowed, with first-quarter results coming in down $72 million, a drop from a loss of $331.4 million year-over-year.