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Toshiba Posts Higher Annual Sales, Income

4/27/2007 02:44:00 PM Eastern

Tokyo — Toshiba reported consolidated net sales and consolidated operating income had double-digit increases for its fiscal year, ended March 31.

Consolidated sales were $60.2 billion for the year, a 12 percent increase, while consolidated operating income rose to $2.19 billion, a 17.8 percent gain. Net income for the year was also up dramatically to $1.16 billion, a 76 percent gain that included an increase for sales of securities in affiliated companies.

In digital products, net sales increased 11 percent to $23.8 billion with an operating income of $133.8 million, 24 percent lower than the previous year. PC sales were up due to overseas sales growth, and Digital Media Network business reported higher sales of TV and portable digital music players, Toshiba said.

In the fourth quarter, ended March 31, consolidated net sales were $18.3 billion, up 16 percent, while consolidated income was $1.16 billion, up 9 percent.