Financial News Roundup

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Thomson Reports 14.8% Core Biz Growth
Paris — Under a new organizational structure implemented Jan. 1, French media and entertainment company Thomson reported a first quarter sales gain of 14.8 percent in its three core media and entertainment divisions — including services, systems and equipment and technology.

Maytag Majap Sales Drop 2.8%


Newton, Iowa — Amid a difficult selling and cost control environment, major appliances maker Maytag reported lower first quarter sales, with its primary home appliance segment sliding 2.8 percent, to $1.11 billion, from a year-earlier $1.14 billion.

Office Depot Q1 N.A. Sales Increase 6%


Delray Beach, Fla. — Office Depot reported a 6 percent jump in first-quarter sales for its North American retail division, hitting $1.7 billion, up from $1.6 billion. Comp-store sales in the United States and Canada edged upward 1 percent in the three months.

OfficeMax Retail Segment Sales Dip 2%


Itasca, Ill. — More targeted promotional activity, focused primarily on small business customers, at office products retailer OfficeMax, reduced first-quarter sales for the company’s retail segment, but increased year-on-year profit and gross margin.

Whirlpool N.A. Revenue Rises 4.5%


Benton Harbor, Mich. — North American first-quarter revenue at Whirlpool increased 4.5 percent year-on-year, hitting $1.98 billion, even with the implementation of price increases ranging from 5 percent to 10 percent across product lines.

Nokia Q1 Cellphone Segment Sales Jump


Helsinki, Finland — Even with first-quarter sales declines for mobile phones in North America, overall mobile phone segment sales at Nokia jumped 11 percent to $5.9 billion from a year-ago $5.3 billion. However, segment operating profit declined 16 percent in the first three months, down to $1.1 billion, from $1.3 billion.

Motorola Cellphone Segment Sales Rise


Schaumburg, Ill. — Strong sales of handsets, which account for more than half the revenue at Motorola, helped boost overall company sales 10 percent in the first quarter. Consolidated sales reached $8.2 billion, up from $7.4 billion in the prior-year’s first three months.

Electrolux Q1 N.A. Shipments Off 6.5%


Stockholm, Sweden — Electrolux’s North American shipments of major appliances, including room air conditioners and microwave ovens, declined by about 6.5 percent during the first quarter.

LG Q1 CE Sales Drop 1.9%


Seoul, South Korea — Appreciation of the South Korean won and product price erosion drove down first-quarter sales in the digital display segment at LG Electronics by 1.9 percent to $1.2 billion.

RadioShack Sales Rise 3% in Q1, Profit Drops


Fort Worth, Texas — RadioShack blamed poor performance in its core store’s wireless business for lower first-quarter earnings, with overall net income sliding to $55 million from a year-ago $68.3 million.

Philips Reports 29% CE Sales Growth


Amsterdam, The Netherlands — Sales of flat-screen televisions and digital set-top boxes in North America during the first quarter helped push up consumer electronics segment sales at Philips Electronics by 7 percent.

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