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Toshiba Reports Lower Fiscal Q1 Net Sales

Tokyo – Toshiba
reported lower net sales with net income being unchanged during its fiscal
first quarter, ended June 30.

The Japanese
earthquake, problems in the U.S. and European economies have hurt sales,
Toshiba indicated.

Net sales were
1,326.1 billion yen ($16.4 billion), a decrease of 125.3 billion yen.
Consolidated operating income was 4.1 billion yen ($50.9 million), a decrease
of 29.7 billion yen compared with the prior year’s first quarter.

Net income was 0.5
billion yen, unchanged from last year’s first quarter.

In its digital products
segment, net sales were down 10 percent to 522 billion yen. Operating income
decreased 10.6 billion yen.

The segment had
lower sales, reflecting the yen appreciating; sluggish sales in its visual
products business and in the PC business in Europe and the U.S.; and weak
storage products sales, primarily in optical disc drives. Operating income was
down due to lower sales in visual products and storage products, the company