By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Sales of LCD color televisions and camera-equipped mobile phones boosted first quarter sales 3.9 percent in the audio-visual and communications equipment segment at Sharp. Sales for the three months reached $1.6 billion, up from $1.5 billion in the year-ago period. In comparison, the company reported sales of conventional A/V products "stagnated" during its first quarter.
Operating income for Sharp's A/V and communications segment enjoyed a 17 percent increase in the company's fiscal first quarter, ended June 30, hitting $59.1 million, compared with $50.6 million in the same quarter in 2002.
Led by declining sales of personal computers, dollar volume in Sharp's information equipment segment slipped 1.1 percent in the first quarter, down to $774.8 million, from $783.8 million in the same three months last year. However, operating income for the segment climbed 5.9 percent in the three months, to $38.2 million, up from $36.1 million year-on-year.
Sales in the small- and medium-size LCD product segment increased during the first quarter by 8.8 percent, hitting $718.7 million, up from $660.9 million in the first quarter last year. Operating income for the group, however, nose-dived 19.2 percent in the first quarter, down to $65.9 million, compared with $81.6 million in the same three months a year ago.
Consolidated net sales reached $4.3 billion in the first quarter, a 7.2 percent increase over the $4 billion reported a year earlier.
Operating income rose 12.1 percent, to $242.7 million, compared with $216.6 million in the first three months a year ago. Net income jumped 13.5 percent, hitting $117.7 million, up from $103.7 million year over year.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.