San Antonio — The Progressive Retailers Organization was at the Westin La Cantera Hill Coun
TOKYO — Operating income in the Digital Media & Consumer Products segment at Hitachi for the first half of fiscal 2002, ending today, is expected to be hurt by sluggish sales of mobile phones and room air conditioners. Hitachi in its overall revised, consolidated forecast for the first six months said its net sales expectations should remain the same at $32.2 billion, compared with $32.9 billion in the year-ago period. However, operating income now is expected to come in at $434.4 million, down from the $584.8 million forecast in late April, but ahead of the $351.8 million operating loss reported a year ago. The company predicted break-even for the period, down from the $41.8 million forecast in April, but better than the $923.5 million net loss reported in the same period in 2001.
PEABODY, MASS. — The impact of the continued difficult economic environment and its significant impact on business sales, particularly computer multimedia speaker volume, pushed fiscal first quarter sales down 11 percent at Boston Acoustics, reaching $18.3 million, compared with $20.4 million in the year-ago first quarter. The company provides audio solutions for home entertainment, autos and personal computers. While net sales in the company's core products segment dropped about 4 percent in the first quarter, compared with a year ago, sales in the OEM/Multimedia segment were off 23 percent. Net income, however, climbed to $276,609 in the first three months, up from $170,654 year over year. The profit is attributable to a larger percentage of sales derived from Boston Acoustics' core product segment, which has higher gross margins, and continued improvements in manufacturing efficiency.
SANTA CLARA, CALIF. — Strong demand for its video product line in the second quarter helped Go-Video dual-deck and Rio digital audio player creator SONICblue push revenue up by more than 80 percent, to $61.7 million, compared with $29.5 million in the year-ago period. Net loss for the second quarter was reduced to $23.5 million, down significantly from the $312.5 million reported in the same three months in 2001. Second quarter gross margin climbed 280 basis points, to 21 percent, compared with 18.2 percent in the preceding three months. For the six months, sales reached $126.7 million, up from $79.4 million in the same period a year ago. The company recorded a net loss of $40 million in the six months, compared with a $648.3 million loss in the same six months in 2001.