Toshiba Posts Improved Q2 Results

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Tokyo - Toshiba reported improved net sales and net profits in its fiscal second quarter, ended Sept. 30.

Net sales were 1,629.7 billion yen ($19.4 billion), an increase of 46.7 billion yen from the same period the previous year. Net income improved by 27.2 billion to 27.3 billion yen ($325.6 million) in the second quarter.

In its digital products segment, sales rose 4 percent to 572.4 billion yen, with operating income at 1 billion yen, down 1.6 billion yen from last year's fiscal second quarter.

Toshiba reported that the segment saw an overall sales increase, with its storage products business feeling the impact of price erosion. In its visual products business, including TVs, there was a "healthy performance," primarily in Japan, and the PC business had increased sales.

The operating income of the segment in the second quarter was lower. PCs improved as a result of higher sales and decreases in materials prices, the company reported.

In its six-month performance, sales were up 184.4 billion yen to 3,081.1 billion yen ($36.7 billion) compared with last year's fiscal first half. Toshiba reversed a net loss from last year's fiscal first half, posting net income of 27.8 billion yen ($331.1 million), an increase of 85.6 billion yen.

In the first half, its digital products segment had a 14 percent gain in net sales and 1.2 percent gain in operating income due to a healthy performance, primarily in Japan, for its TVs, and increased sales of PCs. Its storage products business also had higher sales, reflecting on the acquisition of Fujitsu's hard-disk-drive business.

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