Tokyo - Sanyo Electric posted solid sales growth in its consumer electronics A/V information and telecommunication segment during its fiscal year, resulting in a 12.4 percent year-over-year sales increase, to $7.6 billion.
For the year, ended March 31, Sanyo saw healthy results from sales of optical pick-ups, digital cameras, mobile phones and LCD projectors.
Sanyo's battery segment, boosted by a rebound in demand for mobile phones and personal computers, posted a year-on-year increase of 4.6 percent, hitting $2.4 billion.
In its fiscal year consolidated results, Sanyo registered a sales increase of 7.8 percent, up to $18.2 billion, compared with $16.9 billion for the earlier 12 months.
The company's increase in sales revenue and efforts to improve management efficiency resulted in a consolidated operating income increase of 47.5 percent, to $651.4 million, compared with operating income of $16.9 million a year ago.
However, net income for the fiscal year resulted in negative numbers, coming in at a loss of $605.8 million, compared with net income of $14.4 million in the preceding 12 months.
Despite uncertain factors in the current fiscal year, namely the slowdown in the U.S. economy and the war in Iraq, Sanyo is anticipating healthy consolidated numbers for its fiscal year, ending March 31, 2004.
Year over year sales are expected to increase 12.3 percent, to $20.1 billion, while operating income should rise 29 percent, to $840.8 million. Net income is anticipated at $212.3 million, about an $818.3 million rise from the negative numbers of a year earlier.