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Sony grows in smartphones, but cuts FY outlook
2013-10-31 09:48:00| Telecompaper Headlines
(Telecompaper) Sony reported a continued improvement in smartphone sales in the September quarter. It shipped 10.0 million phones in its fiscal second quarter, up from 9.6 million in Q1 and 8.8 million a year earlier, and also reported rising average selling prices. This helped revenues at its mobile products division increase 39.3 percent year-on-year to JPY 418.6 billion (USD 4.271 billion), and the operating loss narrow to JPY 0.9 billion from JPY 23.1 billion. Excluding currency effects, sales were up 4 percent year-on-year. While the company was doing well in phones, slower sales of computers, which are also included in mobile products, led to a downgrade in its forecast for the division. It still expects the division to post an operating profit and higher sales for the year, but these will be less than expected in August. For the full year to March 2014, Sony maintained its forecast for 42.0 million smartphones sold and cut the PC outlook to 5.8 million units from 6.2 million. A poor performance at its motion pictures division led to a drop in Sony's group results for the quarter and a downgrade in its full-year outlook. Revenues for the three months to September were up 10.6 percent to JPY 1.775 trillion, but the operating profit halved to JPY 14.8 billion, and the net loss widened to JPY 19.3 billion from JPY 15.5 billion a year ago. Sony cut its full-year outlook to sales of JPY 7.7 trillion, from an outlook in August of JPY 7.9 trillion. Net profit is now expected to fall compared to last year, to JPY 30.0 billion.
Telenor cuts FY revenue outlook as growth slows in Q3
2013-10-31 08:59:00| Telecompaper Headlines
(Telecompaper) Telenor has cut its sales growth outlook for the year, after growth slowed to 1 percent in the third quarter. It now expects annual organic revenue growth of 1-2 percent, down from an earlier outlook of 2-4 percent. Revenues were weaker-than-expected in its home market Norway, and restructuring is needed in Denmark, Telenor said. Revenues were also impacted its decision to scale back operations in India. The company maintained its EBITDA margin target of 34 percent in 2013, after a result of 37.1 percent in Q3. Total revenues reached NOK 25.95 billion in Q3, up from NOK 25.25 billion a year earlier, and EBITDA rose to NOK 9.62 billion from NOK 8.82 billion. The net profit increased to NOK 3.92 billion from NOK 3.65 billion, helped by a stronger contribution from the company's stake in Vimpelcom. Capex increased slightly to NOK 5.59 billion, and operating cash flow was also higher, at NOK 5.89 billion. Telenor said full-year capex will be at the high end of its earlier forecast, at 13-14 percent of revenue excluding licence and spectrum costs.
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Sony cuts outlook for full year after Q2 loss widens
2013-10-31 01:00:00| Total Telecom industry news
Japanese electronics maker says smartphone sales strong in quarter, results hit by weakness at movie business.
CEO of drug maker Teva out ahead job cuts
2013-10-30 21:22:22| Biotech - Topix.net
In this Wednesday, Oct. 16, 2013 file photo, trucks run past Teva Pharmaceutical Logistic Center in the town of Shoam, Israel.
UPDATE 1-Nippon Steel raises profit forecast on cost cuts, 'Abenomics' impact
2013-10-30 15:00:16| Steel - Topix.net
Nippon Steel & Sumitomo Metal Corp , the world's No.2 steelmaker, raised its full-year profit forecast by 13 percent on Wednesday on cost cuts and strong steel demand in Japan, lifted by the Abenomics stimulus programme.
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