Mitsubishi Electric CE Segment Sales Up - Twice

Mitsubishi Electric CE Segment Sales Up

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Tokyo — Sales in the home appliances segment at Mitsubishi Electric, which includes consumer electronics products and is the company’s largest business division, climbed 3 percent in the CE maker’s fiscal first quarter, hitting $1.91 billion, up from a year-ago $1.86 billion.

Operating income in the CE segment moved up to $101.2 million, from $92.7 million in the same three months last year, as sales of major appliances, both overseas and in the domestic market, also enjoyed increases.

In Mitsubishi’s electronic devices segment during the first quarter, ended June 30, the liquid-crystal business saw decreases in both orders and sales, compared with the first quarter last year. This was due to a decrease in sales of large commodity-type models, despite increases in small- and medium-sized products for use in manufacturing equipment displays.

However, due to a sales increase in the semiconductor business, the electronic devices segment registered an overall 3 percent sales increase in the first three months, rising to $360.2 million from a year-on-year $350.9 million. The segment also returned to profitability in the quarter, posting $23.6 million in operating income, compared with a $9.1 million operating loss the previous year.

The telecommunications equipment business, Mitsubishi’s information and communication systems segment, saw sales decrease 7 percent in the quarter, down to $959.5 million, from $1 billion in the same quarter a year ago. A decrease in sales and orders was due to a reduction in mobile handsets, despite increases in optical broadband access system products. Segment operating loss in the quarter increased to $53 million from a year-ago operating loss of $28.9 million.

Despite a continued modest slowdown in the global economy, according to the company, Mitsubishi recorded a consolidated sales rise of 2 percent, moving up to $6.58 billion, from $6.47 billion the previous year.

The electronic devices segment’s return to profitability in the first quarter could not push consolidated operating income to an increase for the period. Consolidated operating income dropped 20 percent in the quarter, down to $186.6 million from a year-over-year $234.2 million. Consolidated net income declined to $99.4 million in the first quarter, compared with a year-ago $111 million.

Tokyo — Sales in the home appliances segment at Mitsubishi Electric, which includes consumer electronics products and is the company’s largest business division, climbed 3 percent in the CE maker’s fiscal first quarter, hitting $1.91 billion, up from a year-ago $1.86 billion.

Operating income in the CE segment moved up to $101.2 million, from $92.7 million in the same three months last year, as sales of major appliances, both overseas and in the domestic market, also enjoyed increases.

In Mitsubishi’s electronic devices segment during the first quarter, ended June 30, the liquid-crystal business saw decreases in both orders and sales, compared with the first quarter last year. This was due to a decrease in sales of large commodity-type models, despite increases in small- and medium-sized products for use in manufacturing equipment displays.

However, due to a sales increase in the semiconductor business, the electronic devices segment registered an overall 3 percent sales increase in the first three months, rising to $360.2 million from a year-on-year $350.9 million. The segment also returned to profitability in the quarter, posting $23.6 million in operating income, compared with a $9.1 million operating loss the previous year.

The telecommunications equipment business, Mitsubishi’s information and communication systems segment, saw sales decrease 7 percent in the quarter, down to $959.5 million, from $1 billion in the same quarter a year ago. A decrease in sales and orders was due to a reduction in mobile handsets, despite increases in optical broadband access system products. Segment operating loss in the quarter increased to $53 million from a year-ago operating loss of $28.9 million.

Despite a continued modest slowdown in the global economy, according to the company, Mitsubishi recorded a consolidated sales rise of 2 percent, moving up to $6.58 billion, from $6.47 billion the previous year.

The electronic devices segment’s return to profitability in the first quarter could not push consolidated operating income to an increase for the period. Consolidated operating income dropped 20 percent in the quarter, down to $186.6 million from a year-over-year $234.2 million. Consolidated net income declined to $99.4 million in the first quarter, compared with a year-ago $111 million.

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