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Canon announces middling Q4 2011 earnings report, president steps down
In the wake of a relatively strong Q3, Canon today unveiled a slightly less rosy earnings report for the fourth quarter of 2011. Net sales for the quarter reached ¥964.8 billion (about $12.6 billion), up from the ¥916 billion the company reported last quarter, but down about 9.7 percent from Q4 2010. Quarterly operating profit, meanwhile, rose 14.2 percent on the year, to ¥94.6 billion ($1.2 billion). Profit for the full fiscal year, however, declined by 2.4 percent to ¥378.1 billion (approximately $4.9 billion), compared with the ¥387.6 billion ($5.1 billion) Canon raked in for all of 2010. Net income, on the other hand, rose by nearly 14 percent over Q4 2010 (¥61.4 billion from ¥54 billion), but only 0.8 percent over the full fiscal year (¥248.6 billion in FY 2011, ¥246.6 billion in FY 2010). Looking forward to 2012, the cameramaker expects net income to increase to ¥250 billion, which would mark the second straight year of less than one percent growth. This forecast is lower than what many analysts expected, though Canon based its projections on assumptions that the yen will continue to rise against both the dollar and the euro, making Japanese exports more expensive in Western markets. It was against this backdrop of disappointment that company president and COO Tsuneji Uchida announced his resignation today, effective March 29th. The 70-year-old Uchida will be replaced by 76-year-old chairman Fujio Mitarai, with Uchida slipping into an advisory role. Coming off a year that saw a devastating tsunami in Japan and supply chain disruptions in flood-ravaged Thailand, Canon underscored its cautious outlook for 2012, in a statement: "The future remains increasingly uncertain amid growing concern over a global economic slowdown." Find Canon's full report at the source link, below.
Nintendo officially announces Nintendo Network, promises personal accounts for Wii U
Nintendo's third quarter financial briefing just spilled the beans on the recently spied Nintendo Network, causing Nintendo fans everywhere to collectively sigh, "It's about time." Company head honcho Satoru Iwata says the network will offer "competitions and communication among users, as well as the sales of digital content," and in the case of the Wii U, will introduce personal user accounts. Iwata stopped just short of confirming that the Nintendo Network will end the company's policy of tying downloaded titles to Nintendo hardware, rather than individual users, but mentioned that it packed an infrastructure that supports not only add-on content, but fully downloadable retail games as well."This concept was built into the design of the Nintendo 3DS, and we already have the necessary infrastructure," Iwata said, "We will prepare the same infrastructure for the Wii U. However, we have not decided the concrete timing of when we will start it." Iwata pointed to Mario Kart 7's community building features and DLC offerings in the upcoming Theatrythm Final Fantasy as an early look at how the Nintendo Network is trying differentiate itself from the outfit's existing Nintendo Wi-Fi connection services. Hit the source link to read Iwata's briefing for yourself.
Microsoft paid Nokia $250 million to adopt Windows Phone, Q4 earnings report reveals
Microsoft and Nokia have historically been pretty tight-lipped about the value of their Windows Phone partnership, but the cat leapt out of the bag this morning, courtesy of Espoo's Q4 2011 earnings report. As SlashGear's Chris Davies noticed, Nokia received about $250 million from Redmond during the fourth quarter of 2011, as part of the companies' "broad strategic agreement." Under the agreement, the manufacturer receives so-called "platform support payments" from Microsoft -- which, in turn, receives software licensing payments from Nokia. The $250 million Microsoft doled out last quarter is the first of these transactions. All told, Nokia expects the payments both to and from Microsoft to total "in the billions of US Dollars."
Nokia releases Q4 2011 earnings report: operating profits drop, Lumia sales break one million
Nokia released its latest quarterly earnings report today, following up on a somewhat disappointing Q3 with a similarly bleak Q4. The Finnish manufacturer finished 2011 with a little more than €10 billion ($13.1 billion) in net sales -- 11 percent higher than Q3, but 21 percent lower than 2010, when Nokia raked in about €12.7 billion (approximately $16.7 billion). Operating profit, meanwhile, rose by 90 percent over Q3, but is still down on the year by a whopping 56 percent; this quarter, in fact, saw an operating loss of €954 million (about $1.3 billion). Its net cash and liquid assets also dropped by €1.4 billion over the year, marking a 20 percent decline. The general takeaway, then, is that things are looking better than they were last quarter, but worse than they were last year. To date, the company has sold "well over" one million Lumia devices, but this Windows Phone surge has apparently come at Symbian's expense. "In certain markets, there has been an acceleration of the anticipated trend towards lower-priced smartphones with specifications that are different from Symbian's traditional strengths," CEO Stephen Elop said in a statement. "As a result of the changing market conditions, combined with our increased focus on Lumia, we now believe that we will sell fewer Symbian devices than we previously anticipated." Looking forward, Nokia expects to break even during the first quarter of 2012, due in part to lower than expected seasonal sales and what it calls "competitive industry dynamics." For the full report, check out the source link below.
Nintendo releases quarterly earnings report: 61 percent drop in profit, grim forecast
Nintendo released its latest quarterly earnings report this morning and, as with last quarter's report, there's not a whole lot to celebrate. The company posted profits of ¥40.9 billion (about $631.6 million) for the October - December period, representing a 61 percent quarterly drop. That's especially disappointing, considering that this period has traditionally been strong for Nintendo, which had previously forecast an operating profit of ¥1 billion (around $12.9 million). Those forecasts have since changed, however, with the manufacturer now predicting a ¥45 billion ($580 million) operating loss for the full year, ending March 31st. Nintendo blames the poor showing to sagging 3DS sales, which have forced it to slash prices. Also on Thursday, President Satoru Iwata told reporters that his company plans to release its new Wii U console across the US, Europe Australia and Japan in time for the 2012 year-end holiday season. Read the report in full, at the source link below.
Clearwire Q4: revenues up, costs down, LTE expensive
Things are looking up at Clearwire, its Q4 revenue came in just over Wall Street's estimates at $362 million, split between $198 million retail and $164 million wholesale -- with the latter figure up 20 percent over the last quarter. It pointed a finger at increased smartphone usage and slashed operating costs (spending only $82 million) as the reason for the bump. With this being Clearwire, it's still in the business doldrums, relying on handouts from Sprint to keep it going. It's planning to flog off around $300 million of debt to "qualified investors" as a way to ensure sufficient funding for the forthcoming LTE rollout. If you're interested in this sort of thing, you can read the full breakdown after the interval, presumably storming around pretending that you're Gordon Gekko.
Texas Instruments 2011 Q4 earnings: $3.42 billion in revenue, $298 million in profit
It's that special time of year after CES, when many tech companies regale us with their latest earnings reports. Texas Instruments is the most recent firm to divulge its financials, and while the company isn't breaking any records, it did beat Wall Street's expectations. TI pulled in $3.42 billion in revenue, a three percent dip from the previous year, and profit dropped to $298 million from the $942 million it made in Q4 2010. While the company's spinning the numbers as a positive, stating that orders for its chips are up and its revenue beat estimates, the fact that TI's closing two manufacturing plants over the next year and a half doesn't paint such a rosy picture. Of course, if the future with OMAP 5 is as good as we think it is, Texas Instruments should be just fine.
RIM reports Q3 2011 earnings: $5.2b revenue, $265m net income and 14.1 million handsets shipped
News out of Waterloo isn't all bad today, as Research in Motion has revealed its financial results for the third quarter of 2011. While the company previously had to scale back its earlier earnings projections of $5.6 billion in the quarter, it's apparent the firm came close to meeting that mark. After close of the markets today, RIM reported $5.2 billion in revenue with $265 million in net income and 14.1 million handsets shipped. The company was only able to eke out 150,000 PlayBook tablets during this time frame, however, which no doubt contributed to these reduced numbers. Unfortunately, the market hasn't taken so kindly to the revelation, as RIM's stock has fallen seven-percent in after hours trading. In a small bit of positive news, the firm reports that its subscriber count is up 35-percent year-over-year, which now totals 75 million subscribers. Looking forward, the company expects to bring in between $4.6 and $4.9 billion in revenue for the next quarter, where it hopes to ship between 11 and 12 million units. Co-CEO Jim Balsillie referred to the last few quarters as among the most trying in the company's history, and promised to re-evaluate RIM's product portfolio, R&D strategy and to "leave no stone unturned" as it seeks to regain prominence in the smartphone world. Meanwhile, co-CEO Mike Lazaridis reaffirmed the commitment to the PlayBook OS 2.0, which remains on track for a February launch. As for the QNX-based BlackBerry 10 smartphones that we've been looking forward to, Lazaridis said to not expect anything until late 2012. Apparently, its availability will be hampered by a critical chipset supply that's not expected to become available until mid-next year. In other words, unless consumers develop a love for BlackBerry 7 OS real quick, 2012 may sadly be another ugly year for the folks in Waterloo.
Dish Network's Q3 profits rise 30 percent, but subscriber base diminishes
The third fiscal quarter of this year saw the best of times and the worst of times for Dish Network. On the positive side of the ledger, the company saw net revenues grow by 12.3 percent since Q3 2010, reaching $3.6 billion. Profits, meanwhile, jumped by 30.3 percent over the year to $319 million, compared with the $245 million it raked in during the third quarter of 2010. Dish said the jump in revenues could be partially attributed to its acquisition of Blockbuster and the subsequent launch of Blockbuster Movie Pass, which the company hopes to expand and build upon going forward. The report wasn't entirely rosy, however, as Dish Network saw a net loss of about 111,000 subscribers during the quarter (about 20,000 more than analysts had predicted), bringing its total to approximately 14 million customers. By contrast, during the third quarter of last year, the company added about 327,000 users. But this decline didn't stop Dish from doling out a rare $2.00 per share dividend to investors, which may make its less savory results a bit easier on the stomach. Check out the full report, after the break.
Lenovo posts Q2 earnings, sees increase in profits, shipments and market share
The quarterly earnings stats just keep rolling in today -- this time, from Lenovo, which has just posted yet another stellar report. According to the company, profits for the second quarter of this year reached $145 million, marking an 89 percent increase over the same period last year. Consolidated sales, meanwhile, rose by 35.8 percent to a record $7.8 billion, giving Lenovo a worldwide quarterly market share of 13.5 percent, also its highest ever. Laptops, not surprisingly, were at the forefront of this surge, accounting for 57.5 percent of the company's total revenue, with PC shipments rising 35.4 percent over the year. Lenovo also saw a 25.4 percent increase in shipments to China, as well as a 54.5 percent year-over-year increase in shipments to mature markets, including Western Europe and the US. For more statistical delights, check out the full PR, after the break.
Cablevision reports Q3 earnings, sees profit fall by 65 percent, drop in video subscribers
It's safe to say that Q3 2011 probably won't be remembered as Cablevision's finest. According to the provider's latest earnings report, profits declined by a full 65 percent over the year, with net income plunging to $39.3 million this quarter, compared with the $112.1 million it raked in during the third quarter of 2010. The company also reported a loss of 19,000 video subscribers during Q3, though it added 17,000 broadband customers and 38,000 telephone subscribers. Total customers, however, declined by 15,000 over the past three months. Revenue, meanwhile, increased by eight percent to $1.7 billion, though the New York-area operator lost about $16 million to Hurricane Irene -- not to mention all those legal fees. Smell that? That's a big platter of PR, sitting right there after the break.
Hon Hai sees profit fall nine percent in Q3, pins hopes on new Chinese factories
Hon Hai Precision Holdings has just released its Q3 earnings report, and it probably did so with a whimper. That's because net profits fell to NT$19.2 billion (about $614 million) this quarter, marking an 8.6 percent decline from Q3 2010, when Hon Hai (aka Foxconn) reported a net income of NT$21 billion (around $702 million). The company blamed the decline on a slow economic recovery and its ongoing expansion in China, where new factories are being constructed across inland areas like Chengdu, Wuhan and Zhengzhou. These costs are still taking a toll on Hon Hai's bottom line, though analysts say the expansion could pay off in the long-run, thanks to the lower wages that Hon Hai will have to pay to maintain operations in these less affluent regions. Some are also hopeful that the iPhone 4S will help spur production heading into Q4 of this year, though its ultimate effect, of course, remains to be seen. Hit up the links below for more details and analysis.
HTC releases Q3 earnings report: profit up 68 percent, shipments soar 93 percent
It's been another stellar quarter for the folks over at HTC. According to the company's Q3 earnings report, released today, net income rose to NT$18.68 billion (about $624.6 million) this quarter -- a 68 percent increase over Q3 2010 and a seven percent bump over last quarter, when HTC reported record profits. Revenue, meanwhile, rose by 79 percent on the year to NT$135.8 billion (around $4.54 billion), which the manufacturer attributed to "strong brand recognition, leading product portfolio and expanded distribution channels." On a regional level, HTC saw the strongest growth in China, where sales increased by a factor of nine over the past year. This undoubtedly helped the company boost handset shipments, which increased by a whopping 93 percent over the year, to 13.2 million units. For more details and crunchy numbers, hit up the source links, below.
Motorola Mobility reports $3.3 billion in revenue and $32 million net loss, offers more details on Google buyout
Just in time for the company to be acquired by Google, Motorola Mobility is beginning to right the ship, as evidenced by today's quarterly earnings report. The company reported total net revenues of $3.3 billion -- precisely the same amount earned last quarter, incidentally, and up 11 percent from this time last year -- and a GAAP net loss of $32 million. While the number may put frowns on a few faces, it's still an improvement from Q2's loss of $56 million, and more than half ($18 million) of the losses were attributed to expenses from the Google acquisition. Mobile device revenues are up 20 percent year-over-year and 11.6 million devices were shipped, including 4.8 million smartphones and 100,000 Xoom tablets. On the regulatory front, Moto offered a few new details about the progress of the company's acquisition. It announced that it will hold a meeting with stockholders on November 17 to gain approval of the Google merger, and -- pending antitrust clearance by the US Department of Justice, the EU and several other government entities -- expects to close the transaction by the end of this year or early 2012 at the latest. Check out all of the numbers after the break.
Nintendo posts first half loss in earnings report, slashes forecast yet again
Nintendo's latest earnings report may be one of its most forgettable. The company posted a net loss of ¥70.27 billion ($923 million) this morning, in a report covering the first six months of the fiscal year ending on September 30th. That's significantly deeper than the ¥2.01 billion loss Nintendo posted during the same period last year, though Nintendo attributed the result, in part, to a strengthened yen and sagging demand for its 3DS console. Revenue, meanwhile, fell by 40.6 percent on the year, to ¥215.74 billion ($2.84 billion), as the manufacturer reported an operating loss of ¥57.34 billion. Things are looking so bleak, in fact, that Nintendo has decided to slash its financial projections yet again, predicting a net loss of ¥20 billion for the full year (ending in March 2012), compared with the ¥20 billion in profits it projected only in July. And, as Bloomberg notes, if these prognostications hold true, it would mark Nintendo's first annual loss in a full 30 years. Ouch. Check out the full report for yourself at the source link, below.
Intel earnings beat company records: $14.3 billion revenue, $3.7 billion net income
Apple may not have fared as well as expected in its own Q4, but just up the road in Silicon Valley Intel managed to exceed analyst predictions, posting record revenue of $14.3 billion -- up $3.2 billion, or 29 percent year-over-year. The company also set new records for microprocessor units shipped, and expects further growth over the next quarter, with notebook computer sales driving $14.7 billion in predicted Q4 revenue. Jump past the break for an in-depth look at the company's Q3, along with its outlook for the next quarter.
Sony Ericsson posts lower Q3 profits, will shift 'entire portfolio' to smartphones in 2012
It's been a rough couple of quarters for Sony Ericsson, but things are looking slightly rosier, according to its Q3 earnings report. Today, the company announced break even year-on-year results for the third quarter of 2011, blaming the outcome on lower profit margins and higher taxes, which rose from €12 million to €17 million over the course of a year. According to the report, net profits fell to zero this quarter after reaching €49 million ($67.26 million) during Q3 2010, while sales dropped to €1.59 billion ($2.18 billion) from €1.6 billion ($2.2 billion) last year. It's not exactly an encouraging trend, but it's certainly an improvement over the last quarter, when Sony Ericsson posted a net loss of €50 million. As far as its portfolio goes, the company says its Xperia smartphones now comprise 80 percent of all sales, with some 22 million handsets already shipped to consumers. President and CEO Bert Nordberg, meanwhile, confirmed that his company will focus on this market with even more intensity, next year: "We will continue to invest in the smartphone market, shifting the entire portfolio to smartphones during 2012." You can dig through the numbers for yourself, in the full PR after the break.
RIM's Q2 earnings report: $329 million in net income, not enough to fend off critics
The first quarterly earnings report post-Wake Up Call have just been published for Canada's own Research in Motion, and while the cash is still flowing, investors and analysts alike aren't feeling too rosy about the future. Despite Q2 revenue of $4.2 billion and a GAAP net income of $329 million, RIM's stock plummeted nine percent following the news. Why? That reality was at the lowest end of estimates, and as we've seen, it takes a blowout quarter to please the folks on Wall Street. Nevertheless, the company's touting a subscriber base that ballooned 40 percent year-over-year (surpassing 70m total), and while it's quick to trumpet the rollout of seven new smartphones, not a one of them managed to astound the QNX-desiring critics. The report also notes that 10.6 million handsets were moved in the quarter, around $780 million was invested as "part of a consortium of companies that successfully bid to acquire intellectual property assets from Nortel," and it's forecasting that BlackBerry smartphone shipments in Q3 will grow between 27 percent and 37 percent compared to Q2. Sadly, the company only "shipped" 200,000 PlayBook tablets, with the prevailing thought being that it actually sold far fewer. Moreover, nary a forecast was given for future PlayBook sales.As for thoughts from the head honcho(s)? Jim Balsillie, Co-CEO, stated that "overall unit shipments in the quarter were slightly below our forecast due to lower than expected demand for older models," further noting that his firm will "continue to build on the success of the BlackBerry 7 launch to drive the business as we focus our development efforts on delivering the next generation, QNX-based mobile platform next year." Next year is a long, long way away, though, and there's no doubt whatsoever what kind of competition will be in place by the time 2012 rolls around. We'll be hopping on the analyst call here in a few, and you can look beyond the break for any notable mentions.
Dell's Q2 earnings fall short of estimates: $890 million net income, $15.66 billion revenue
Shares of Dell were down nearly eight percent in after-hours trading after the Texas-based PC maker posted lower-than-expected second-quarter results. Still, the company's revenue was up one percent over last year, totaling $15.66 billion, compared to $15.5 billion in Q2 2010. Net income jumped 63 percent, from $545 million to $890 million, over the year-ago quarter. Corporate and government orders were responsible for the jump in income, according to an AP report, but new sales predictions hint that orders may not be coming in as often as anticipated. Dell expects modest growth of one to five percent for the full year -- citing "a more uncertain demand environment" -- compared to previous estimates of five to nine percent growth. Jump past the break for the full rundown from Dell.
HP releases 2011 Q2 earnings early, following leak of foreboding internal memo
HP kicked off this morning's Q2 earnings call citing a leaked company memo that recently popped up at Bloomberg. That memo, which had the outfit's CEO, Leo Apotheker warning of "another tough quarter," resulted in a five percent drop in HP shares in after-hours trading Monday, according to the Wall Street Journal, and prompted the release of the outfit's Q2 earning a day ahead of schedule -- an earnings call was originally slated for Wednesday. According to the report, the company managed to pull in $31.6 billion in revenue and $2.3 billion in earnings, compared to $30.8 billion in revenue and $2.2 billion in earnings the same time last year. So what brought about the pot-stirring internal memo? Well, it seems HP's struggled to keep up with the competition when it comes to consumer computer sales. Despite an increase in revenue in every other segment of the company's business, HP's Personal Systems Group (which covers enterprise and consumer sales) saw revenue decline five percent year-over-year, with the portion covering consumer computers down 23 percent. That might seem like a big dip, and it is, but Apotheker says the company is "excited by the tablet opportunities," continuing on to say that the impending release of the company's TouchPad "will be an exciting product release for HP." For now, we'll just have to sit back and see if the webOS slate has the stuff to pull HP out of the consumer computer lurch. Full PR after the break.
