Subject: General Tech | August 3, 2013 - 06:56 PM | Tim Verry
Tagged: us cellular, smartphone, wireless carrier, financial results
US Cellular recently released financial results for the second quarter of 2013. US Cellular, a Chicago-based company, serves approximately 5 million wireless customers in 23 states. It reported second quarter revenue of $911 million, net income of $143.4 million, and Earnings Per Share (EPS) of $1.69.
Compared to the same period last year, US Cellular saw decreased revenue ($1.03 billion in Q2 2012), but increased net income and EPS versus the $52.7 million and $0.62 in Q2 2012 respectively.
Included in the recently-ended second quarter results is $480 million in cash from the de-consolidation "Divesture Transaction" deal.
Looking towards the second half of 2013, US Cellular plans to add Apple devices to its lineup and continue the build out of its 4G LTE cellular network. According to US Cellular, the company expects to see 2013 yearly revenue of $3.615 to $3.715 billion and annual income of up to $700 million.
More information can be found in the press release.
Subject: General Tech | July 27, 2013 - 12:12 AM | Tim Verry
Tagged: logitech, gaming, financial results
Logitech recently posted its financial results for its first quarter of fiscal year 2014. The company announced that sales went up 2% YoY to $478 million. It had a net income of $1 million and an slight operating profit. Both numbers are a step up compared to the $51 million net loss and $59 million operating loss in the same quarter last year. Q1 FY2014 saw gross margin reach 35.2% compared to 31% in Q1 FY2013.
While Logitech saw OEM sales drop by 6% and sales of its LifeSize division drop by 18%, overall sales increased by 5% thanks to a 12% and 4% sales increase in the Americas and Asia markets respectively. Additionally, sales fell by 3% in the Europe, Middle East, and African markets.
|Q1 FY2014||Q1 FY2013|
|Sales||$478 million (+2%)||$469 million|
|Net Income||$1 million||($51 million)|
|Retail Sales (Total)||+5%||-base line-|
|OEM Sales||-6%||-base line-|
|LifeSize Division Sales||-18%||-base line-|
Logitech experienced the most growth in sales of its tablet accessories, PC gaming peripherals, and wireless speaker products which amounted to a 90% increase versus last year.
According to Logitech, the company expects $2 billion in sales and a $50 million operating income through the entire fiscal 2014 year. It expects to see a gross margin of 39%.
The full Logitech press release can be found over at Market Watch.
Subject: General Tech | July 24, 2013 - 06:48 AM | Tim Verry
Tagged: OS X, mac, iphone, financial results, apple
Apple announced its financial results for its fiscal year 2013 Q3 yesterday, and it performed well. Note that Apple’s fiscal Q3 2013 quarter ended on July 29, 2013.
Apple reported fiscal Q3 2013 revenue of $35.3 billion, and net profit of $6.9 billion. That works out to $7.47 per diluted share. During this quarter, Apple held its annual WWDC, and announced new operating systems for both its mobile and desktop products. The company sold 31.2 million iPhones (a record for Q3) 14.6 million iPads, and 3.8 million Macs. It sold slightly fewer iPads and Macs than the same quarter last year, but significantly more iPhones.
Compared to the same quarter last year, Apple increased overall revenue but saw less net profit and EPS. In fiscal Q3 2012 Apple has revenue of $35 billion, net profit of $8.8 billion, and EPS of $9.32 per diluted share. In FY Q3 2012, Apple sold 26 million iPhones, 17 million iPads, and 4 million Macs.
|FY'13 Q3||FY'12 Q3 (YoY)||Future Outlook|
|Revenue||$35.3 billion||$35 billion||$34 to $37 billion|
|Net Profit||$6.9 billion||$8.8 billion|
|Gross Margin||36.9%||42.8%||36 to 37%|
|iPhones Sold||31.2 million||26 million|
|iPads Sold||14.6 million||17 million|
|Macs Sold||3.8 million||4 million|
Apple has announced, as a result of its third quarter performance, a $3.05 dividend per common stock to be paid on August 15, 2013. It had $7.8 billion cash flow in FY 2013 Q3 and returned $18.8 billion of cash to shareholders in the form of dividends and share repurchases.
According to Apple, the company's outlook for its fourth quarter is promising, with expected revenue between $34 billion and $37 billion with a gross margin of between 36% and 37%. Apple expects to release both iOS 7 and OS X Mavericks later this year along with new products (like the new Mac Pro) this fall and next year.
Subject: General Tech | July 19, 2013 - 10:37 PM | Tim Verry
Tagged: windows 8, Surface RT, microsoft, financial results
Software giant Microsoft recently released its financial report for its fiscal Q4 2013 (FY13 Q4) ended June 30, 2013. The financial results cover both quarterly and yearly results.
Microsoft saw quarterly revenue of $19.09 billion of fiscal Q4 2013 as well as $77.85 billion of revenue for fiscal year 2013. Quarterly revenue of $19.09 billion fell approximately 7% from fiscal Q3 2013 revenue of $20.49 billion. Further, yearly revenue increased 6% versus fiscal year 2012.
Additionally, Microsoft had quarterly operating income and net income of $6.07 billion and $4.97 billion respectively.
As far as annual financial results, Microsoft’s operating income and Earnings Per Share both increased to the tune of 23% and 29% respectively versus the previous fiscal year.
The reduced performance in fiscal Q4 2013 is partially attributed to a $900 million charge for Surface RT “inventory adjustments,” and a $733 million European Commission fine which reduced operating income. On the positive side, Microsoft was able to count $782 million worth of defrred revenue from its Office Upgrade Offer.
According to the Microsoft press release:
“Our diverse business continues to deliver solid financial results, even as we navigate the evolving device market,” said Peter Klein, chief financial officer at Microsoft. “Looking ahead, we will continue to invest in long-term growth opportunities to drive our devices and services strategy forward and deliver ongoing value to shareholders.”
Looking forward, Microsoft has announced that CFO Peter Klein will be leaving the company at the end of the current fiscal year after 11 years total at Microsoft and 4 years in the Chief Financial Officer role. Further, Microsoft expects operating expenses to grow by as much as 6% over fiscal year 2014.
More information can be found in the full financial report.
Subject: General Tech | July 19, 2013 - 05:23 PM | Tim Verry
Tagged: amd, financial results, graphics and visual solutions, x86
AMD recently released its financial results for the second quarter of 2013. AMD had a decent quarter that demonstrated the positive effects of its ongoing restructuring efforts, but the company is, unfortunately, still operating at a loss.
In Q2 2013, AMD reported revenue of $1.16 billion, a 40% gross margin, operating loss of $29 million, and a net loss of $74 million. It experienced loss per share of $0.10. Total revenue has increased 7% versus last quarter, but is still down 18% YoY (Year over Year).
Within AMD, there are two major groups that bring in revenue: the Computing Solutions group and the recently-renamed Graphics and Visual Solutions group.
The Computing Solutions group is responsible for processors while the Graphics and Visual Solutions group is responsible for all of AMD’s graphics technologies, including GPUs.
The Computing Solutions groups experienced a 12% increase in revenue versus last quarter, and a 20% decrease in revenue versus the same time last year. According to AMD, the increase in revenue is primarily due to “significantly higher” notebook shipments and an increased number of desktop and server shipments. Further, the YoY decrease is the result of lower overall unit shipments and lower processor Average Selling Prices (ASP).
While the processor division is doing better, the Graphics and Visual Solutions group saw revenue decreases versus last quarter and last year. Specifically, revenue fell 5% QoQ and fell 13% YoY. AMD reasons that the Average Selling Price of its GPUs has increased YoY while also falling versus last quarter.
During Q2 2013 (and 2013 in general), AMD announced design wins for all the major gaming consoles and Apple’s upcoming Mac Pro desktop with dual FirePro cards, released a slew of new A-Series and embedded G-Series APUs, unleashed its 5.0GHz FX-9590 Piledriver-based CPU, and launched low power Opteron X processors. AMD's performance in Q2 was the result of its continued focus on restructuring as well as "opportunities in high growth and traditioanl PC businesses" according to CEO Rory Read.
According to the company, its outlook for next quarter is a revenue increase of 22% (+/- 3%), or approximately $1.42 billion.
Subject: General Tech, Mobile | July 6, 2013 - 04:13 AM | Tim Verry
Tagged: htc, financial results, Android
Taiwanese smartphone manufacturer HTC has released financial results for its Q2 2013. All things considered, HTC had a good quarter, but it is still far from reaching the performance of the prior year.
HTC had quarterly revenue of approximately $2.35 billion (NT $70.7 billion), net income of $41.5 million (NT $1.25 billion), and Earnings Per Share (EPS) of $0.05 (NT $1.50).
The previous quarter (Q1'13) saw HTC achieve revenue of $1.42 billion (NT $42.8 billion), net profit of $2.82 million (NT $85 million), and EPS of $.003 (NT $0.10). The company's HTC One smartphone is likely a contributor to the improved performance QoQ.
Year over Year (YoY), HTC is still down quite a bit. In Q2 of 2012, HTC had revenue of $3.02 billion (NT $91.04 billion), net profit of $245.6 million (NT $7.4 billion), and EPS of $0.30 (NT $8.90). The following chart shows the figures in USD in a handy table.
|Q2 2013||Q1 2013||Q2 2012|
|Revenue||$2.35 Billion||$1.42 Billion||$3.02 Billion|
|Net Income||$41.5 Million||$2.82 Million||$245.6 Million|
|Earnings Per Share||$0.05||$0.003||$0.30|
YoY, HTC's Q2 revenue is down about 22% while net profit and EPS are both down about 83% respectively. The recent financial report is not all bad news, however. HTC is recovering from its fall and saw a positive increase over the first quarter of 2013 with 65.5% higher quarterly revenue. Profit and EPS also saw a massive jump over the previous quarter. The HTC announcement did not include and outlook for investors, but the company is refocusing on quality hardware and had a positive quarter.
Subject: General Tech, Mobile | July 2, 2013 - 03:22 AM | Tim Verry
Tagged: RIM, financial results, blackberry, BES10, BB10
BlackBerry (the company formerly known as RIM) recently posted its financial report detailing performance in the first fiscal quarter 2014. Unfortunately, it did not perform nearly as well as investors hoped. BlackBerry experienced increases in quarterly revenue and units shipped, but it still ended up with a hefty operating loss.
Specifically, at the end of fiscal Q1 2014, BlackBerry reported revenue of $3.1 billion with 6.8 million devices shipped and an operating loss of $84 million. The $3.1 billion in revenue is a 15% increase versus the previous quarter ($2.9 billion) and a 9% increase YoY (year over year). Despite the operating loss (which is actually an improvement over the $518 million operating loss in the previous year), BlackBerry still managed to ship 6.8 million units, which is 13% increase versus the previous quarter. BlackBerry did not detail how many of those devices where BB10 devices, but it is estimated to be 2.7 million of the 6.8 million devices shippped versus 1 million BB10 devices shipped in the previous quarter. At least BB10 is gaining some small amount of traction. Among those BlackBerry devices shipped in Q1'14, the company did state that it shipped 100,000 BlackBerry PlayBook tablets.
Speaking of the PlayBook, the company had to break its promise to users with the statement that it would not be providing an update for the tablets to its latest BlackBerry 10 operating system. The reason given was that the company ran into performance issued on the PlayBook hardware when attempting to get BB10 running, and because they were not able to get it running smoothly they are not giong to release any update after all.
Needless to say, investors where not pleased with the performance of the company or of BlackBerry 10 which (despite being an interesting mobile OS) has not caught on like many had hoped. Instead, the BlackBerry OS is reported to occupy fourth place in the market behind Android, iOS, and even Windows Phone. BlackBerry's stock price dropped as much as 26% following the release of the financial report, according to GSMArena.
According to the company, the following quarter will see improvements, but it will still be operating at a loss. BlackBerry will continue to forge ahead with BlackBerry 10 OS and the accompanying hardware. The company will further development of BlackBerry 10, BlackBerry Enterprise Services (BES) 10, and a cross-platform version of its BlackBerry Messenger (BBM) social messaging client. Handsets are going to be the focus with no new tablets. Finally, BlackBerry is going to continue focusing on cost cutting and company streamlining efforts to reduce overhead and other expenses.
The full financial report is available here on the BlackBerry website.
It is not all bad news. BlackBerry still has a fighting chance and I hope they can turn things around and make the new BlackBerry a success. What do you think about BlackBerry's performance so far this year/ Have you seen any BB devices being used instead of the typical iPhone or Android handset?
Subject: General Tech | May 9, 2013 - 07:50 PM | Tim Verry
Tagged: tegra 4, nvidia, grid, financial results
NVIDIA has released the results of its first fiscal quarter of 2014. Overall, NVIDIA had a positive first quarter with total revenue of $954.7 million and a net income of $77.9 million. During Q1 2014 the company announced its Grid VCA for enterprise customers and Tegra 4 and Tegra 4i for the mobile market. NVIDIA’s shareholders saw an Earnings Per Share (EPS) of 13 cents, which is up 30% versus the same quarter last year. Interestingly, NVIDIA has announced that it will be returning $1 billion to shareholders through increased dividends and buying back shares.
Q1 2014 is an interesting quarter, as it is up year over year, but down significantly versus the previous quarter (Q4’13). NVIDIA’s Q1’14 revenue of 954.7 million is up YOY 32% from $924.9 million in Q1’13, but down 13.7% from $1.1 billion in the previous quarter. The dip is likely attributable to the fact that its Q1’14 is the quarter after the holiday rush at the end of Q4. Considering it is still up versus last year, the dip versus last quarter shouldn’t be taken as a bad sign. Net income follows a similar pattern, with net income down 53.2% versus last quarter’s $174 million, but up 29% YOY (Q1’13 net income was $60.9 million).
The financial results seem to indicate that NVIDIA is continuing to grow and remain profitable. According to NVIDIA, the company expects to see operating expenses and revenue increase in Q2’14 to $448 million in and approximately $975 million respectively. Further, NVIDIA expects growth to continue throughout 2014 as it launches new Tegra 4(i) SoCs and expands its server/business offerings with its GRID technologies.
You can find NVIDIA's full financial report on the company's website.
Subject: General Tech | October 12, 2012 - 07:34 PM | Jeremy Hellstrom
Tagged: amd, financial results, quarterly earnings
While we do not have the finalized results of AMD's Q3 earnings, The Register did report that they will not be meeting the targets that were set previously. The are lowering both expected revenues as well as their gross margins projections. While this news is not unexpected it does illustrate the difficulties which AMD is currently experiencing. With new products already for sale and more scheduled for release before the new year, there is still hope for AMD to make a bit of a recovery. As we have pointed out many times before, whether you purchase AMD products or not, the continued existence of AMD is crucial to keep the marketplace competitive.
shamelessly stolen from macgasm
"AMD has announced lowered expectations for its third-quarter financial results, with revenues declining 10 per cent from the previous quarter, down from the 1 per cent – give or take 3 per cent – that it had previously projected."
Here is some more Tech News from around the web:
- TLC NAND could penetrate biz with flash-to-flash backup @ The Register
- AMD Hondo-based products to be launched in mid-November at the earliest @ DigiTimes
- My smartphone conundrum @ The Tech Report
- Office 2013 hits RTM, will ship starting in November @ The Register
- What is going on with Nvidia’s GK114? @ SemiAccurate
- Fractal Design End Mod
Subject: General Tech | August 9, 2012 - 07:06 PM | Tim Verry
Tagged: tegra 3, nvidia, kepler, financial results
Popular graphics card manufacturer NVIDIA announced its second quarter financial results for fiscal year 2013 in a conference call today. While some aspects of the business delivered less revenue than expected, its mobile Tegra and desktop/notebook graphics card divisions were up. In total, the company brought in a 13% quarter-over-quarter increase and $1.04 billion in revenue.
Tregra is proving a successful product for NVIDIA.
NVIDIA CEO Jen-Hsun Huang was part of the conference call today and he seemed positive about the company’s performance. He stated that “Our investments in mobile computing and visual computing are both paying off.” Thanks to the company’s successful 28nm Kepler architecture–and despite early yield issues–NVIDIA managed strong GeForce graphics card sales and a increased notebook graphics market share. The company attributes this increase to new Kepler-based notebook models from Acer, Apple, Asus, Dell, HP, Lenovo, Samsung, and Sony.
On the mobile front, NVIDIA has seen several successes in securing design wins. One such device is Google’s new 7” Nexus 7 tablet that is proving to be a popular device–running NVIDIA’s Tegra 3 processor. The company’s Tegra 3 SoC is further included in the upcoming Surface tablet from Microsoft.
While they do not have many numbers on it yet, the company announced its cloud computing technologies at the GPU Technology Conference earlier this year. The mobile and cloud compute tech positions the company “right at the center of the fastest growing segments of computing,” according to Jen-Hsun Huang.
The company’s Professional Solutions Business has not done well for the company, but they are hoping to turn it around with new Tesla products and the planned NVIDIA Maximus technology.
Compared to the previous quarter (Q1 FY13), the company’s operating expenses have increased from $390.5 million to $401.1 million–a 2.7% increase. Fortunately, the company still managed to pull off a 97% increase in net income from $60.4 million to $119 million. Earnings per share have also increased from $.10 to $.19 which is likely to please shareholders. As far as GAAP revenue is concerned, it is up from the $924.9 million of the previous quarter.
Going into the third quarter, NVIDIA expects to see increased revenue between $1.15 billion and $1.25 billion. The company does not expect see any noticeable changes in gross margins. Further, they expect operating expenses to decrease to be approximately $350 million–compared to $401.1 million in the previous quarter.
It seems like desktop graphics and Tegra mobile chips are the company’s big winners this quarter. The increased expected revenue is likely NVIDIAs expectation that it will sell more GeForce graphics cards once the mid-range Kepler cards are more fleshed out. Overall, it looks like things are good for NVIDIA.
You can listen to the full conference call here.
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