Tuesday, May 01, 2007

Toshiba Had A Very Good Year

I know that the old adage is "Good News is No News" but Toshiba deserves a tummy rub for their Fiscal 2006 performance. Besides, I had to gargle with some positivity to get the bile out of my mouth after covering Circuit City this morning.

TWICE: Toshiba Posts Higher Annual Sales, Income
By Staff -- TWICE, 4/27/2007 12:44:00 PM
Tokyo — Toshiba reported consolidated net sales and consolidated operating income had double-digit increases for its fiscal year, ended March 31.
Consolidated sales were $60.2 billion for the year, a 12 percent increase, while consolidated operating income rose to $2.19 billion, a 17.8 percent gain. Net income for the year was also up dramatically to $1.16 billion, a 76 percent gain that included an increase for sales of securities in affiliated companies.
In digital products, net sales increased 11 percent to $23.8 billion with an operating income of $133.8 million, 24 percent lower than the previous year. PC sales were up due to overseas sales growth, and Digital Media Network business reported higher sales of TV and portable digital music players, Toshiba said.
In the fourth quarter, ended March 31, consolidated net sales were $18.3 billion, up 16 percent, while consolidated income was $1.16 billion, up 9 percent.

I've always liked Toshiba, and think it's a shame that they don't get more respect in the marketplace. Consumers have always treated them like an also-ran behind Sony and Panasonic which is unfair. They are a major manufacturer with a distribution model as big as any other Japanese brand. And they make great electronics. In all my years in retail CE, there's only three brands with whom I have never had to resolve a service issue: Toshiba, Hitachi, and Panasonic.

Their modest success is due to never having over-reached themselves trying to be number one. They just put their head down, mind their work, and focus on assembling a quality product, and getting it onto shelves in a timely manner. They know how to keep their eye on the ball, and at the end of the quarter or the year, it's the number at the bottom of the P&L that matters.

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