SE strong increase in sales

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Sony Ericsson Reports Strong Increase in Sales and Shipments for Its Two Core Business Areas GSM and Japanese Standards
7/15/2003 4:37:00 AM



TOKYO and STOCKHOLM, Sweden, Jul 15, 2003 (BUSINESS WIRE) -- Sony (SNE) and Ericsson (ERICY) today announced the financial summary for the second quarter, ended June 30, 2003, of Sony Ericsson Mobile Communications AB, the 50:50 joint venture of Sony and Ericsson.

The company reported improved operating results and a strong increase in sales and shipments for its two core business areas; GSM and Japanese standards.

Units shipped in the quarter reached 6.7 million, which is 34% higher year-on-year and 23% higher compared to the first quarter 2003. Net sales for the quarter were Euro 1.125 million, representing year-on-year and sequential increases of 18% and 40%, respectively.

In the areas of strategic focus and in the wake of successful product launches, the GSM business posted 84% year-on-year growth in shipments and Japanese standards shipments increased 45% year-on-year. This business growth is attributable to a strengthened product offering coupled with strongly improved supply and logistics performance.

Income before taxes excluding restructuring charges was Euro -45 million and Net Income (excluding restructuring charges) was Euro -33 million, which represents year-on-year improvements of Euro 53 million and Euro 50 million, respectively. Income before taxes including restructuring was Euro -102 million and net income was Euro -88 million.