Toshiba Fiscal Q3 CE Segment Sales Climb 19%

By Jeff Malester On Feb 10 2003 - 8:00am

Bolstered by overseas sales of DVD players as well as sales of portable PCs 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, compared to the same period in 2001. Digital media, Toshiba's largest business segment, includes mainstream consumer electronics.

Digital media operating income in the third quarter, ended Dec. 31, increased $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.

Toshiba 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.