Toshiba Reports Lower Sales, Loss In Quarter - Twice

Toshiba Reports Lower Sales, Loss In Quarter

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Tokyo - Toshiba reported company-wide lower sales and a loss in its fiscal first quarter, ended June 30, as well as the same in its CE business.

Net sales were 1,268.9 billion yen ($16 billion), a decrease of 57.2 billion yen year on year.

The net loss attributable to shareholders was 12.1 billion yen ($153.2 million), a decrease of 12.6 billion yen.

In its digital products segment, sales were down 17 percent to 339.9 billion yen and the operating loss was 3.6 billion yen. The visual products business, which includes TVs, saw a sales decline vs. a year earlier, and the PC business also recorded a decrease on sluggish sales in the U.S., although unit sales rose in Japan and Europe.

The operating loss was due to a slowdown in demand for LCD TVs in Japan, although improved operations in comparison to the fourth quarter of the previous year helped, as well as the PC business, which had an operating profit based on cost reductions, Toshiba said.

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