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May 13, 2009

Toshiba in the red as Q4 revenue dips 20% to $17 billion

Sales in Europe fell 47% to $1.9 billion

By CBR Staff Writer

Toshiba has reported a net loss of JPY 184 billion ($1.9 billion) for the fourth quarter 2008, compared to net profit of JPY 1.25 billion ($12.6m) in the year-ago quarter, on revenue down 20.4% at JPY 1,671.5 billion ($16.9 billion). It made an operating loss of JPY 182.9 billion ($1.8 billion), compared to JPY 4.6 billion ($46.8m) in the year-ago quarter.

The company said second-quarter digital product revenue fell 29% to JPY 513.5 billion ($5.2 billion), electronic device revenue declined 41.1% to JPY 244.1 billion ($2.5 billion), and social infrastructure revenue fell 1.5% to JPY 808.8 billion ($8.2 billion). Home appliance revenue fell 24.3% to JPY 150 billion ($1.5 billion), and other revenue declined 21.1% to JPY 76 billion ($767.4m).

Sales in Japan fell 19% to JPY 919.3 billion ($9.3 billion), while Asia revenue fell 36% to JPY 226.4 billion ($2.3 billion). Revenue from North America fell 2.7% to JPY 277 billion ($2.8 billion), while Europe sales fell 47% to JPY 192.9 billion ($1.9 billion). Revenue from others declined 13.6% to JPY 55.7 billion ($563m).

For the fiscal year, it reported a net loss of JPY 343.6 billion ($3.5 billion), compared to net profit of JPY 127.4 billion ($1.3 billion) last year, on revenue down 13.2% at JPY 6,654.5 billion ($67.2 billion).

Looking ahead, the company expects fiscal 2009 revenue to be approximately JPY 6,800 billion ($68.7 billion), with an operating income of JPY 100 billion ($1 billion) and a net loss of JPY 50 billion ($505m).

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