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Sony surprises with Q1 profit, lifts outlook

July 30, 2010 By vani Leave a Comment

TOKYO, July 29 (Reuters) – Sony Corp (6758.T) unexpectedly swung to a quarterly operating profit as improved demand for electronics and aggressive cost cuts countered the impact of a stronger yen and it lifted its annual forecast. Fears over the economic effects of Europe’s debt crisis are clouding the outlook for Japan’s exporters. The euro EURJPY= has fallen more than 10 percent against the yen since April 1.

Sony, the world’s second-largest camera maker after Canon Inc (7751.T) and the No. 3 maker of flatscreen TVs after Samsung Electronics (005930.KS) and LG Electronics (066570.KS) made more than 25 percent of its sales in Europe in the year to March 2010.

But Sony saw big improvements in sales of LCD TVs, PCs and Playstation 3 game consoles and game software.

For the year to March 2011, the electronics and entertainment giant lifted its operating profit outlook by 12.5 percent to 180 billion yen ($2.1 billion), compared with a consensus estimate of 152.6 billion in a poll of 22 analysts by Thomson Reuters I/B/E/S.

The company reported April-June operating profit of 67 billion yen versus a consensus forecast of a 13.1 billion yen loss in a poll of four analysts and a loss of 25.7 billion yen a year earlier.

On Wednesday, LG missed estimates with a 90 percent fall in quarterly profit, hit by falling margins in its TV business and a loss in its mobile phone division.

Sony’s mobile phone joint venture with Ericsson (ERICb.ST), Sony Ericsson, posted a second consecutive quarterly profit earlier in the month, recovering from a dismal 2009 on robust demand for smartphones.

Shares of Sony rose 0.1 percent to 2,611 yen on Thursday ahead of the announcement.

(Reporting by Isabel Reynolds; Editing by Anshuman Daga)

((isabel.reynolds@thomsonreuters.com; +813-6441-1883; Reuters Messaging isabel.reynolds.reuters.com@reuters.net))

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Filed Under: International News Tagged With: Anshuman Daga, camera maker, Canon Inc, Consensus Estimate, Debt Crisis, Economic Effects, entertainment giant, Flatscreen Tvs, Game Software, Lcd Tvs, LG Electronics, operating profit, playstation 3, Playstation 3 Game Consoles, Profit Outlook, quarterly profit, robust demand, Samsung Electronics, Sony Corp, Sony Ericsson

UPDATE 1-Canon Q2 profit sharply beats consensus, keeps outlook

July 28, 2010 By vani Leave a Comment

TOKYO, July 27 (Reuters) – Japanese camera and office equipment maker Canon Inc (7751.T) posted a 153 percent rise in quarterly profit, bigger than expected, on robust sales of its high-end cameras, but stuck to its earlier full-year forecast.

The April-June increase was the third straight quarter of year-on-year profit growth for Canon, which boasts the biggest share of the global camera market, ahead of Sony Corp (6758.T) and Nikon (7731.T).

The maker of IXY compact cameras and upmarket EOS cameras kept its operating profit outlook for the full year to Dec. 31 at 360 billion yen ($4.1 billion), compared with a consensus for 384 billion yen in a poll of seven analysts by Thomson Reuters I/B/E/S.

April-June operating profit was 113.4 billion yen, compared with a consensus forecast of 90.6 billion yen in a poll of four analysts by Thomson Reuters I/B/E/S.

Canon, which competes with Xerox Corp (XRX.N) and Ricoh Co (7752.T) in office equipment, said it was assuming exchange rates of 90 yen to the dollar JPY= and 110 yen to the euro EURJPY= for the second half of the calendar year.

Xerox last week beat quarterly profit forecasts as it enjoyed better demand for its printing and outsourcing services, and boosted its full-year outlook to take account of its $5.5 billion buy last year of Affiliated Computer Services. [ID:nN22176429]

Shares in Canon have fallen 19.2 percent in the period from April to Monday, underperforming Tokyo’s electrical machinery index IELEC.T, which fell 16.8 percent. (Reporting by Isabel Reynolds; Editing by Michael Watson)

Filed Under: International News Tagged With: Affiliated Computer, Affiliated Computer Services, camera market, Canon Inc, compact cameras, Electrical Machinery, Japanese Camera, Machinery Index, Michael Watson, operating profit, Outsourcing Services, Profit Forecasts, Profit Growth, Profit Outlook, quarterly profit, Ricoh Co, Sony Corp, straight quarter, Xerox Corp, XRX

Canon Q2 profit more than doubles, keeps outlook

July 28, 2010 By vani Leave a Comment

July 27 (Reuters) – Japanese camera and office equipment maker Canon Inc (7751.T) posted a 153 percent rise in quarterly profit, a bigger than expected climb on robust sales of its high-end cameras.

For the year to Dec. 31 the maker of IXY compact cameras and upmarket EOS cameras kept its operating profit outlook at 360 billion yen ($4.1 billion), compared with a consensus for 384 billion yen in a poll of seven analysts by Thomson Reuters I/B/E/S.

April-June operating profit was 113.4 billion yen, compared with a consensus forecast of 90.6 billion yen in a poll of four analysts by Thomson Reuters I/B/E/S.

It marked the third straight quarter of year-on-year profit growth for the world’s biggest maker of digital cameras, ahead of Sony Corp (6758.T) and Nikon (7731.T).

Shares in Canon, which also competes with Xerox Corp (XRX.N) and Ricoh Co (7752.T) in office equipment, fell 19.2 percent from April to Monday, underperforming Tokyo’s electrical machinery index IELEC.T, which fell 16.8 percent in the same period. (Reporting by Isabel Reynolds, Editing by Ian Geoghegan)

Filed Under: International News Tagged With: Canon Inc, compact cameras, digital cameras, Electrical Machinery, Geoghegan, Japanese Camera, Machinery Index, operating profit, Profit Growth, Profit More Than Doubles, Profit Outlook, Q2 Profit, quarterly profit, reuters, Ricoh Co, Sony Corp, straight quarter, Xerox Corp, XRX, yen

UPDATE 1-Sensient Q2 profit beats Street, ups FY profit view

July 24, 2010 By vani Leave a Comment

July 23 (Reuters) – Specialty chemicals company Sensient Technologies Corp (SXT.N) reported quarterly profit above analysts’ estimates, helped by volume growth across its segments, and raised its full-year earnings outlook.

For the second quarter, Sensient’s net income rose to $28.7 million, or 58 cents a share, from $25.8 million, or 53 cents per share, a year earlier.

Revenue rose 10 percent to $334 million.

Analysts on average had expected the company to earn 53 cents a share, on revenue of $323.1 million, according to Thomson Reuters I/B/E/S.

Sensient raised its full-year profit outlook to between $2.05 and $2.10 per share. It earlier expected earnings of $2.00 to $2.06 per share. Analysts on average were looking for a profit of $2.05 per share.

Shares of the Milwaukee, Wisconsin-based company closed at $27.77 Thursday on the New York Stock Exchange.

For related alerts, double click [ID:nASA00JWM] (Reporting by Arup Roychoudhury in Bangalore; Editing by Gopakumar Warrier)

Filed Under: International News Tagged With: chemicals company, Double Click, Milwaukee Wisconsin, net income, New York Stock, New York Stock Exchange, Profit Outlook, quarterly profit, reuters, second quarter, segments, Sensient Technologies Corp, share analysts, Share Shares, Specialty Chemicals, sxt, ups, Volume Growth, Warrier, York Stock Exchange

REFILE-UPDATE 1-Thai TPI Polene sees higher 2010 net profit

July 2, 2010 By vani Leave a Comment

BANGKOK, July 1 (Reuters) – TPI Polene PCL TPIP.BK, Thailand’s third-largest cement firm, said on Thursday it expected 2010 net profit to be higher than the 4.76 billion baht ($147 million) it made last year.

Chief Executive Prachai Leophairatana attributed the profit outlook to higher cement demand on the back of government infrastructure projects.

“This year’s profit should beat last year’s slightly,” Prachai said, adding that an investment in a power plant would help bring saving costs of 600 million baht a year.

The company also expected second-quarter earnings to be higher than 677 million baht earned in the first quarter as revenue in the first half grew 5 percent from a year earlier thanks to a rise in cement sales volume, Prachai added.

TPI Polene, 55 percent owned by the Leophairatana family, entered a debt rehabilitation programme in 2000.

Prachai said it was restructuring 3 billion baht in debt with Bangkok Bank BBL.BK and Deutsche Bank (DBKGn.DE), extending the period of repayment by four to five years.

It planned to raise cement prices by another 200-300 baht per tonne this year. It raised cement prices by 150 baht per tonne earlier this year, he added.

The company, currently running at full capacity of 9 million tonnes per year, planned to spend about 10 billion baht from 2013 to raise capacity. ($1=32.40 Baht) (Reporting by Manunphattr Dhanananphorn; Writing by Arada Kultawanich; Editing by Alan Raybould)

Filed Under: International News Tagged With: Bangkok Bank, Bbl, bk, Cement Prices, Cement Sales, Deutsche Bank, First Quarter, government infrastructure, infrastructure projects, net profit, Pcl, Power Plant, Profit Outlook, raybould, reuters, Sales Volume, Second Quarter Earnings, tonnes, Tpi Polene, Tpip

Australia’s OneSteel to raise at least A$559 mln

April 17, 2009 By admin Leave a Comment

SYDNEY, April 16 (Reuters) – OneSteel Ltd (OST.AX), Australia’s second-largest steelmaker, plans to raise at least A$559 million ($405 million) in equity capital to cut its debt, the company said in a statement on Thursday.

The new shares are being sold at A$1.80 each, representing a 30 percent discount to its last traded price.

Earlier, OneSteel cut its fiscal 2009 profit outlook due to lower sales. For details see: [ID:SYU006339]. ($1=A$1.38) (Reporting by Denny Thomas)

Filed Under: International News Tagged With: April, April 16, Australia, capital, company, debt, Denny, Denny Thomas, discount, equity, equity capital, ltd, mln, OneSteel, onesteel ltd, ost, outlook, percent, price, profit, Profit Outlook, reporting, reuters, statement, steelmaker, sydney, SYU, Thursday

Danish electronics maker Bang and Olufsen posts loss

April 14, 2009 By admin Leave a Comment

Copenhagen – Share prices for Danish audio and multimedia products maker Bang and Olufsen dipped Tuesday after the group announced a lower profit outlook in its nine-month report for 2008/2009. Known for its sleek design of audio and other equipment, the group has been struggling recently but in the third quarter signed deals to deliver sound systems to car makers Audi and Aston Martin.

The share price dropped over 8 per cent but recovered some ground and was down some 1.5 per cent at noon on the Copenhagen bourse.

The group posted a pre-tax loss of 414 million kroner (73 million dollars) for the period June 2008 to February 2009, compared to a pre-tax profit of 190 million kroner year-on-year.

The loss included restructuring costs of 105 million kroner, the group said, adding that turnover was 2.17 billion kroner, down some 1 billion kroner year-on-year.

For the full financial year, the group expected a pre-tax loss of 510 million kroner, and turnover of some 2. billion kroner.

In its outlook for financial year 2009/2010, the group estimated a break-even result before tax while new products – including a new series of television sets – were expected to help lift turnover to some 3.2 billion kroner. (dpa)

Filed Under: International News Tagged With: 1 Billion, aston, Aston Martin, Audi, bang, Bang And Olufsen, Bang Olufsen, bourse, car, Car Makers, cent, copenhagen, Danish Electronics, design, DPA, equipment, February, ground, group, June, kroner, loss, maker, Martin, million dollars, Multimedia Products, noon, Olufsen, outlook, period, price, profit, Profit Outlook, quarter, report, result, series, share, Share Price, share prices, Sleek Design, sound, tax, Tax Profit, television, television sets, Tuesday, turnover, year

E.ON shares slump as its revises down profit outlook

March 10, 2009 By admin Leave a Comment

Frankfurt – German energy giant E. ON AG has become the nation’s latest company to scale back its earnings forecast Tuesday, warning of the tough economic times ahead and as a result sending its shares sharply lower.

The group’s announcement that slumping energy demand meant it expects 2009 profit to drop by about 10 per cent compared to last year resulted in its shares falling 7.6 per cent in early trading to 18.69 euros (24 dollars).

“The outlook for 2009 is subject to significantly more uncertainty than outlooks of previous years,” E. ON said releasing the results.

“One of the main sources of uncertainty is the future course of the global economic crisis and its effects, which at this time are difficult to foresee,” the group said.

E. ON said instead of a previously forecast 12.4 billion euros, it now expects 2010 adjusted earnings before interest and taxes of 11 billion euros.

The prospects of more difficult conditions for the company came after it reported that net profit rose by 9 per cent to 5.6 billion euros in 2008.

E. ON has dramatically expanded its business in recent years after a major acquisition drive helping to result in a 26 per cent rise in revenue to 86.8 billion euros last year. (dpa)

Filed Under: International News Tagged With: acquisition, ahead, earnings, economic times, energy demand, Energy Giant, euros, Frankfurt, German Energy, global economic crisis, net profit, Outlooks, previous years, Profit Outlook, prospects, Revises, rose, shares, slump, uncertainty