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Toshiba Fiscal Q3 CE Segment Sales Climb 19%

1/30/2003 08:45:00 AM Eastern

Tokyo - Bolstered by overseas sales of DVD players as well as sales of notebook computers in the U.S. market, sales in Toshiba's Digital Media segment jumped 19 percent, to $3.7 billion, in the company's fiscal third quarter.

The Digital Media segment, which includes CE products and is Toshiba's largest, had operating income in the third quarter, ended Dec. 31, that increased to $59 million over the same period in 2001, hitting $34 million.

In its 12-month forecast for sales in its Digital Media segment, Toshiba anticipates $14 billion in sales, up from $12.4 billion the previous year. Operating income for the segment should hit $177 million for the 12 months, moving into the black from the $125.6 million operating loss reported in fiscal 2001.

Japanese CE maker Toshiba reduced its boosted sales and reduced its loss in the third quarter, compared with the year-ago three months.

Consolidated net sales for the third quarter increased 8 percent at Toshiba, hitting $11 billion, from $10.1 billion in the same three months the previous year. Consolidated net loss for Toshiba hit $57 million in the third quarter, an improvement of $657.3 million, compared with the year-ago three months. Operating income was $20 million, an increase of $607.6 million, compared with the same period a year ago.

For the first nine months, Toshiba lost $279 million, down from a $1.8 billion loss the previous year. Net sales for the nine months increased 6 percent, reaching $33 billion, up from $31.2 billion year over year.

Looking ahead, Toshiba expects $47.6 billion in consolidated sales for the 12 months, up 5 percent from the $45.5 billion recorded in 2001. Operating income should come in at $1.1 billion for the current fiscal year, in the black, when compared with the $964 million operating loss registered the previous year.

Consolidated net income for the 12 months is anticipated at $193.8 million, also in the black, when compared with the net loss of $2.1 billion, recorded in 2001.

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