Angela Ahrendts officially taken the reins and starts role as Apple’s new Senior VP of Retail and Online Stores

 

 

Angela Ahrendts has officially taken the reins of Apple’s new Senior Vice President of Retail and Online Stores. Ahrendts’s last day as the CEO of Burberry was yesterday, and Apple’s website has been updated to reflect Ahrendts beginning her work at Apple today. Her biography, which can be found on Apple’s executive leadership website, explains her role at Apple.

Last week, Tim Cook announced that Ahrendts would “join the Apple team” this week, but the Apple CEO did not specify an exact start date. We understand that Ahrendts is already planning a presentation to retail staff regarding her plans for Apple retail.

Apple announced Ahrendts appointment last fall, and Tim Cook told Apple employees via an internal memo that Ahrendts is the “best person in the world for this role.” Her role is unique in that this is the first time that Apple will have a Senior Vice President covering both retail and online stores.

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AMD leads the semi-custom business back to profitability, with net income of $48 million in Q3 earnings

AMD had back from its second quarter slump, and the company has held its word, reporting a net income $48 million in its Q3 financial reports.

AMD cites growth in its Graphics and Visual Solutions (GVS) division, which is responsible for semi-custom products like the chips bound for the upcoming PlayStation 4, Xbox One and the current Wii U.

• “We achieved 26 percent sequential revenue growth driven by our semi-custom business and remain committed to generating approximately 50 percent of revenue from high-growth markets over the next two years,” AMD President and CEO Rory Read stated in the earnings announcement.

 

The Sunnyvale firm (AMD) on Thursday reported a third-quarter profit of $48 million, or 6 cents a share, on revenue of $1.46 billion. During the same period a year ago, the semiconductor maker lost 21 cents a share on $1.27 billion in sales. Excluding one-time items, AMD would have earned 4 cents a share.

Analysts surveyed by FactSet had forecast AMD to earn 2 cents a share on $1.42 billion in revenue. AMD shares fell almost 8% in after hours trading. The company said it expects fourth-quarter sales in a range that could fall below analysts’ forecasts of $1.52 billion.

Other story: Origin PC drops AMD graphics options due to feedback. Origin PC’s move is a blow to AMD’s image; it suggests that the chip designer needs more than just advanced silicon to please gamers.

• This decision was based on a combination of many factors including customer experiences, GPU performance/drivers/stability, and requests from our support staff. Based on our 15+ years of experience building and selling award winning high-performance PCs, we strongly feel the best PC gaming experience is on NVIDIA GPUs.

However, not every portion of AMD’s business is flourishing, however – both its Computing Solutions and GPU segments saw a drop in revenue over the past year, and the company admits that it’s shipping fewer notebook chipsets these days. Even so, the numbers bode well for the company, which posted a total revenue of $1.46 billion for the quarter, alongside an optimistic outlook. After all, the company’s Mantle graphics cards are just around the corner.

 

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Analyst: Apple’s global market share could drop below 10% in Q3 without a new iPhone

With the unlikely iPhone 5S announcement at the WWDC 2013, things might get badly to Apple according to analysts. Of course Apple will definitely be announcing a new iPhone by Q3, but the timing of the actual release could mean that its global market share will take a substantial hit. There is a solid chance that we will see the announcement for the iPhone 5S in September, but it may not be released until October. And, according to Toni Sacconaghi of Sanford Bernstein, that could lead to Apple’s global market share dropping below 10% in Q3.

The basic premise behind Toni’s prediction is sound: while Apple’s smartphone sales did grow almost 7% year-on-year, the overall smartphone market grew 36%, so Apple’s global market share has dropped year-on-year from 23% to 17%. Given the speed at which the smartphone market is growing, combined with Apple’s usual sales lull that comes before a new hardware launch, Apple’s market share will shrink.

The situation won’t get any better by June, he figures. Based on Apple’s fiscal Q3 revenue guidance, he estimates Apple will sell about 25 million iPhones in the current quarter (down 4% year over year). If the overall market grows 30%, Apple’s share will fall to 12.3%. If it grows 36%, Apple’s share falls to 11.7%.

Mr. Sacconaghi drops the hammer by saying, “Perhaps most startlingly if Apple does not introduce a new iPhone or lower-priced phone in CQ3 [Apple’s fiscal Q4], it is quite possible that iPhone’s smartphone market share could drop into the single digits.” There is a solid chance of that.

But, it always needs to be mentioned that market share doesn’t necessarily correlate to profits. As we’ve seen for a couple years now, even with a minority market share worldwide, Apple has consistently been on top or right up there with Samsung as far as profits. And, we also know that even though Apple’s sales drop just before a new product launch, its profit margins grow because of supply chain improvements and reduced hardware costs. So, even if Apple’s global market share does drop below 10%, we still have to wait and see what kind of trouble that causes for Apple’s business.

 

Source , Via

Snip.it is Joining Forces with Yahoo!

Since the arrival of Marissa Mayer to lead Yahoo, things change for the firm. Proof of this is the acquisition of the startup Snip.It that has being announced. The company specializes in content sharing has been acquired by Yahoo for a whopping $ 10 million.

Snip.It is a social tool for collecting images, videos and articles on the web with a single click and playful way. Yahoo could therefore able to take advantage of the know-how start-ups to strengthen its social media in the future.

Yahoo strengthens day by day, and gradually becomes a major player in the web, who had been left in the dark for several years.

 

Source

Google unveils its Q4 2012 earnings : resulting an impressive revenues of $14.42 billion

 

The internet giant Google has just announced its earnings for the fourth quarter of 2012, and unsurprisingly it’s in good shape. For the three month period ending December 31st, 2012 the company pulled in $14.42 billion in revenue, with a staggering 36% increase year-over-year. That doesn’t even include revenue generated by Motorola’s recently become part of the giant division, which would have pushed the total to $15.24 billion. 2012 also marked the first year that the company broke the $50 billion barrier for total revenues.

Of course, bringing in all that money means nothing if you can’t actually turn a profit. Good news for investors is that Google saw a net income of $2.89 billion this quarter, up from $2.71 billion the same time last year and $2.74 billion last quarter. Not surprisingly, a large part of that cash is coming from Google’s own properties and advertising, with Google-owned sites accounting for 67% of revenues and ads gotting in $12 billion on their own.

Obviously, the majority of Mountain View company income is coming from the US, $5.99 billion in this quarter, but international markets are still hugely important for the company. 53% of its revenues came from overseas ventures, including $1.3 billion from the UK alone.

Motorola Mobility, on the other hand, isn’t faring so well. While pulling in $1.51 billion in revenue, the phone manufacturer lost $353 million as its new parent company continues to try to turn around the business. Whether or not Mountain View is succeeding is debatable as revenues continue to drop and losses increase for the beleaguered, former icon. There is a sizable war chest at its disposal however, as Google claims to have $48.1 billion in cash or its equivalent on hand.

Other things : Nikesh Arora, Google’s Senior Vice President and Chief Business Officer, took a pretty big chunk of time to talk about the spread of YouTube and the earning power of ads. In case you continue to doubt that the streaming service is a viable money-making platform, Arora said he estimates Gangnam Style has raked in $8 million through ads.

To read more check out the PR after the break.

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Official Press Release

Google Inc. Announces Fourth Quarter and Fiscal Year 2012 Results

Google Inc. reported consolidated revenues of $14.42 billion for the quarter ended December 31, 2012. Consolidated revenues would have been $15.24 billion had Motorola Home been included.

MOUNTAIN VIEW, Calif. – January 22, 2013 – Google Inc. (NASDAQ: GOOG) today announced financial results for the quarter and the fiscal year ended December 31, 2012.

“We ended 2012 with a strong quarter,” said Larry Page, CEO of Google. “Revenues were up 36% year-on-year, and 8% quarter-on-quarter. And we hit $50 billion in revenues for the first time last year – not a bad achievement in just a decade and a half. In today’s multi-screen world we face tremendous opportunities as a technology company focused on user benefit. It’s an incredibly exciting time to be at Google.”

Q4 Financial Summary

In December 2012, we entered into an agreement with Arris Group, Inc. and certain other persons to dispose the Motorola Home business for a total consideration of approximately $2.35 billion in cash and stock, subject to certain adjustments. The transaction is expected to close in 2013. As a result, financial results related to the Home business are presented as net loss from discontinued operations on the consolidated statements of income, and are excluded from all other results unless otherwise noted. Assets and liabilities of the Home business are not presented separately because they are not material.

Google Inc. reported consolidated revenues of $14.42 billion for the quarter ended December 31, 2012, an increase of 36% compared to the fourth quarter of 2011. Google Inc. reports advertising revenues, consistent with GAAP, on a gross basis without deducting traffic acquisition costs (TAC). In the fourth quarter of 2012, TAC totaled $3.08 billion, or 25% of advertising revenues.

Operating income, operating margin, net income, and earnings per share (EPS) are reported on a GAAP and non-GAAP basis. The non-GAAP measures, as well as free cash flow, an alternative non-GAAP measure of liquidity, are described below and are reconciled to the corresponding GAAP measures at the end of this release.

GAAP operating income in the fourth quarter of 2012 was $3.39 billion, or 24% of revenues. This compares to GAAP operating income of $3.51 billion, or 33% of revenues, in the fourth quarter of 2011. Non-GAAP operating income in the fourth quarter of 2012 was $4.27 billion, or 30% of revenues. This compares to non-GAAP operating income of $4.04 billion, or 38% of revenues, in the fourth quarter of 2011. Had we included Home, non-GAAP operating income in the fourth quarter of 2012 would have been $4.31 billion.
GAAP net income including net loss from discontinued operations in the fourth quarter of 2012 was $2.89 billion, compared to $2.71 billion in the fourth quarter of 2011. Non-GAAP net income in the fourth quarter of 2012 was $3.57 billion, compared to $3.13 billion in the fourth quarter of 2011.
GAAP EPS including impact from net loss from discontinued operations in the fourth quarter of 2012 was $8.62 on 335 million diluted shares outstanding, compared to $8.22 in the fourth quarter of 2011 on 329 million diluted shares outstanding. Non-GAAP EPS in the fourth quarter of 2012 was $10.65, compared to $9.50 in the fourth quarter of 2011.
Non-GAAP operating income and non-GAAP operating margin exclude stock-based compensation (SBC) expense, as well as restructuring and related charges recorded in our Motorola Mobile business. Non-GAAP net income and non-GAAP EPS exclude the expenses noted above, net of the related tax benefits, as well as net loss from discontinued operations. In the fourth quarter of 2012, the expense related to SBC and the related tax benefits were $700 million and $152 million compared to $536 million and $114 million in the fourth quarter of 2011. In the fourth quarter of 2012, restructuring and related charges recorded in our Motorola Mobile business were $178 million, and the related tax benefits were $65 million. In addition, net loss from discontinued operations, in the fourth quarter of 2012, was $21 million. In the fourth quarter of 2012, non-GAAP operating income with Home included the impact from Home of $35 million and excludes the above SBC expense and restructuring and related charges.
Q4 Financial Highlights

Revenues and other information – On a consolidated basis, Google Inc. revenues for the quarter ended December 31, 2012 was $14.42 billion, an increase of 36% compared to the fourth quarter of 2011.

Google Revenues (advertising and other) – Google revenues were $12.91 billion, or 89% of consolidated revenues, in the fourth quarter of 2012, representing a 22% increase over fourth quarter 2011 revenues of $10.58 billion.
Google Sites Revenues – Google-owned sites generated revenues of $8.64 billion, or 67% of total Google revenues, in the fourth quarter of 2012. This represents a 18% increase over fourth quarter 2011 Google sites revenues of $7.29 billion.

Google Network Revenues – Google’s partner sites generated revenues of $3.44 billion, or 27% of total Google revenues, in the fourth quarter of 2012. This represents a 19% increase from fourth quarter 2011 Google network revenues of $2.88 billion.

Other Revenues – Other revenues from Google were $829 million, or 6% of total Google revenues, in the fourth quarter of 2012. This represents a 102% increase over fourth quarter 2011 other revenues of $410 million.

Google International Revenues – Google revenues from outside of the United States totaled $6.9 billion, representing 54% of total Google revenues in the fourth quarter of 2012, compared to 53% in the third quarter of 2012 and 53% in the fourth quarter of 2011.

Foreign Exchange Impact on Google Revenues – Excluding gains related to our foreign exchange risk management program, had foreign exchange rates remained constant from the third quarter of 2012 through the fourth quarter of 2012, our Google revenues in the fourth quarter of 2012 would have been $130 million lower. Excluding gains related to our foreign exchange risk management program, had foreign exchange rates remained constant from the fourth quarter of 2011 through the fourth quarter of 2012, our Google revenues in the fourth quarter of 2012 would have been $193 million higher.

Google revenues from the United Kingdom totaled $1.30 billion, representing 10% of Google revenues in the fourth quarter of 2012, compared to 10% in the fourth quarter of 2011.

In the fourth quarter of 2012, we recognized a benefit of $37 million to Google revenues through our foreign exchange risk management program, compared to $25 million in the fourth quarter of 2011.

Reconciliations of our non-GAAP international revenues excluding the impact of foreign exchange and hedging to GAAP international revenues are included at the end of this release.

Paid Clicks – Aggregate paid clicks, which include clicks related to ads served on Google sites and the sites of our Network members, increased approximately 24% over the fourth quarter of 2011 and increased approximately 9% over the third quarter of 2012.

Cost-Per-Click – Average cost-per-click, which includes clicks related to ads served on Google sites and the sites of our Network members, decreased approximately 6% over the fourth quarter of 2011 and increased approximately 2% over the third quarter of 2012.

TAC – Traffic acquisition costs, the portion of revenues shared with Google’s partners, increased to $3.08 billion in the fourth quarter of 2012, compared to $2.45 billion in the fourth quarter of 2011. TAC as a percentage of advertising revenues was 25% in the fourth quarter of 2012, compared to 24% in the fourth quarter of 2011.

The majority of TAC is related to amounts ultimately paid to our Network members, which totaled $2.44 billion in the fourth quarter of 2012. TAC also includes amounts ultimately paid to certain distribution partners and others who direct traffic to our website, which totaled $634 million in the fourth quarter of 2012.

Motorola Mobile Revenues (hardware and other) – Motorola Mobile revenues were $1.51 billion, or 11% of consolidated revenues in the fourth quarter of 2012.

Other Cost of Revenues – Other cost of revenues, which is comprised primarily of data center operational expenses, amortization of intangible assets, content acquisition costs, credit card processing charges, and manufacturing and inventory-related costs, increased to $3.14 billion, or 22% of revenues, in the fourth quarter of 2012, compared to $1.25 billion, or 12% of revenues, in the fourth quarter of 2011.

Operating Expenses – Operating expenses, other than cost of revenues, were $4.81 billion in the fourth quarter of 2012, or 33% of revenues, compared to $3.38 billion in the fourth quarter of 2011, or 32% of revenues.

Amortization Expenses – Amortization expenses of acquisition-related intangible assets were $289 million for the fourth quarter of 2012. Of the $289 million, $153 million was as a result of the acquisition of Motorola, of which $116 million was allocated to Google and $37 million was allocated to Motorola Mobile.

Stock-Based Compensation (SBC) – In the fourth quarter of 2012, the total charge related to SBC was $708 million, compared to $536 million in the fourth quarter of 2011.

We currently estimate SBC charges for grants to employees prior to January 1, 2013 to be approximately $2.5 billion for 2013. This estimate does not include expenses to be recognized related to employee stock awards that are granted after December 31, 2012 or non-employee stock awards that have been or may be granted.

Operating Income – On a consolidated basis, GAAP operating income in the fourth quarter of 2012 was $3.39 billion, or 24% of revenues. This compares to GAAP operating income of $3.51 billion, or 33% of revenues, in the fourth quarter of 2011. Non-GAAP operating income in the fourth quarter of 2012 was $4.27 billion, or 30% of revenues. This compares to non-GAAP operating income of $4.04 billion, or 38% of revenues, in the fourth quarter of 2011.

Google Operating Income – GAAP operating income for Google was $3.75 billion, or 29% of Google revenues, in the fourth quarter of 2012. This compares to GAAP operating income of $3.51 billion, or 33% of Google revenues, in the fourth quarter of 2011. Non-GAAP operating income in the fourth quarter of 2012 was $4.42 billion, or 34% of Google revenues. This compares to non-GAAP operating income of $4.04 billion in the fourth quarter of 2011, or 38% of Google revenues.

Motorola Mobile Operating Loss – GAAP operating loss for Motorola Mobile was $353 million, or -23% of Motorola Mobile revenues in the fourth quarter of 2012. Non-GAAP operating loss for Motorola Mobile in the fourth quarter of 2012 was $152 million, or -10% of Motorola Mobile revenues.

Interest and Other Income, Net – Interest and other income, net, was $152 million in the fourth quarter of 2012, compared to an expense of $18 million in the fourth quarter of 2011.

Income Taxes – Our effective tax rate was 18% for the fourth quarter of 2012.

Net Income – GAAP net income in the fourth quarter of 2012 was $2.89 billion, compared to $2.71 billion in the fourth quarter of 2011. Non-GAAP net income was $3.57 billion in the fourth quarter of 2012, compared to $3.13 billion in the fourth quarter of 2011. GAAP EPS in the fourth quarter of 2012 was $8.62 on 335 million diluted shares outstanding, compared to $8.22 in the fourth quarter of 2011 on 329 million diluted shares outstanding. Non-GAAP EPS in the fourth quarter of 2012 was $10.65, compared to $9.50 in the fourth quarter of 2011.

Cash Flow and Capital Expenditures (including Home) – Net cash provided by operating activities in the fourth quarter of 2012 totaled $4.67 billion, compared to $3.92 billion in the fourth quarter of 2011. In the fourth quarter of 2012, capital expenditures were $1.02 billion, the majority of which was for production equipment, data center construction and facilities-related purchases. Free cash flow, an alternative non-GAAP measure of liquidity, is defined as net cash provided by operating activities less capital expenditures. In the fourth quarter of 2012, free cash flow was $3.65 billion.

We expect to continue to make significant capital expenditures.

A reconciliation of free cash flow to net cash provided by operating activities, the GAAP measure of liquidity, is included at the end of this release.

Cash – As of December 31, 2012, cash, cash equivalents, and marketable securities were $48.1 billion.

Headcount – On a worldwide basis, we employed 53,861 full-time employees (37,544 in Google and 11,113 in Motorola Mobile and 5,204 in Motorola Home) as of December 31, 2012, compared to 53,546 full-time employees as of September 30, 2012.

Nvidia CEO Jen-Hsun Huang believes that consumers realize a great tablet is better than a cheap PC

Nvidia posted recently a record quarter on growing revenue from its mobile business earlier today, and in the following conference call chief executive Jen-Hsun Huang had a few interesting comments to make on mobile.

The gist can be summarized in one sentence: consumers realize “a great tablet is better than a cheap PC.” Huang said this despite the fact that Nvidia makes both desktop and mobile chips, and that’s what makes this statement interesting.

With net income from its Tegra mobile chip reaching $209.1 million, up from $178.3 million, that’s understandable. Moreover, Huang also mentioned that demand for Tegra for Android phones and the Surface offsets declines in Nvidia’s desktop business.

Nvidia is planning to bring its Tegra 4 processors in early 2013, and those will be the company’s first ones with integrated 4G LTE.

source : Venture Beat

LG Q3 financial results are out, reports a profitable quarter a ‘solid’ $138.57 million net profit for Q3

LG comes to publish its financial report for Q3 2012 and the news are mostly positive. The company has been described its performance as “solid” and while it didn’t report huge profit at least it’s in the black.

The overall net profit is reported at 157 billion Korean won ($138.57 million), which is $1.8 million lower than in Q2, but is still great news for LG.

The LG mobile division managed to ship 14 million smartphones, which is a 9 percent increase over the previous quarter. The revenue from the mobile communications department is also up by 5 percent on a quarter basis adding up to 2.5 trillion Korean won ($2.26 billion).

One of the main reasons for the growth are the company’s newly introduced LTE droids, which sell particularly well in Korea, Japan and the US. The L-series of phones have also contributed to the positive results.

For the Q4 2012, the company says that it has set the groundwork to improve sales thanks to the launch of the Optimus G and Optimus Vu 2 in Korea. It also acknowledges that R&D and marketing expenses have increased, but it’s still turning up profits thanks to “improved product mix” and “cost structure”.

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Official Press Relase

LG ANNOUNCES THIRD-QUARTER 2012 FINANCIAL RESULTS

Company Reports Third Consecutive Quarter of Solid Net Income

SEOUL, Oct. 24, 2012 –- LG Electronics (LG) today reported a solid third-quarter performance with the third consecutive quarter of positive net income and all four companies recording strong operating profits. Better-than-expected performance in the mobile and home appliance businesses helped offset a slight decline in overall year-over-year sales for the third quarter.

Third-quarter net profit of KRW 157 billion (USD 138.57 million) with operating profit recording KRW 221 billion (USD 195.06 million) showed significant improvements from the loss in the same period last year. Third-quarter revenues fell 4 percent year-over-year to KRW 12.38 trillion (USD 10.93 billion) due to the continuing decline of feature phone sales and overall weak demand.

LG Home Entertainment Company third-quarter 2012 sales of KRW 5.49 trillion (USD 4.84 billion) were led by an increase in LCD TV sales, offsetting sluggish global demand. Percentage sales attributed to 3D TVs and LED TVs increased quarter-on-quarter with unit sales growing in most regions. IT products led by IPS monitors and monitor TVs also increased from the previous quarter. Operating profit of KRW 89 billion (USD 78.55 million) was unchanged from third quarter 2011. In the fourth quarter, the company plans to increase sales of LCD TVs by expanding marketing of CINEMA 3D Smart TVs and enhancing its premium brand positioning with the new Ultra HD TV.

LG Mobile Communications Company improved significantly in the 2012 third quarter, recording operating profit of KRW 22 billion (USD 19.42 million) due in large part to healthy sales of LTE smartphones in Korea, Japan and the United States. In addition, Optimus L-Series continued to expand into 3G markets, contributing to the sales increase. Revenues increased by 5 percent quarter-to-quarter to KRW 2.45 trillion (USD 2.16 billion) as shipments exceeded 14 million units, an increase of 9 percent from the previous quarter. The company expects to further increase its shipments and revenue in the fourth quarter with the global launch of the Optimus G superphone and sales of Optimus Vu: 2 in Korea.

LG Home Appliance Company reported improved sales and operating profit from the same quarter last year. Revenue increased 6.4 percent year-over-year to KRW 2.87 trillion (USD 2.53 billion) and operating profit of KRW 129 billion (USD 113.86 million) reflected strong sales in the United States as well as emerging markets. With global appliance demand stagnant, the fourth quarter will be challenging but additional marketing promotions and new model launches should help offset the situation.

LG Air Conditioning and Energy Solution Company posted a 3 percent year-over-year sales decline to KRW 974 billion (USD 859.66 million) while profitability increased slightly from the same period the previous year. The company expects worldwide demand to remain sluggish but the trend toward more energy efficient products should help drive demand in its commercial air conditioning systems business.

2012 3Q Exchange Rates Explained
LG Electronics’ unaudited quarterly earnings results are based on IFRS (International Financial Reporting Standards) for the three-month period ending September 30, 2012. Amounts in Korean Won (KRW) are translated into U.S. Dollars (USD) at the average rate of the three-month period in each corresponding quarter: KRW 1,133 per USD (2012 3Q) and KRW 1,082 per USD (2011 3Q).

Earnings Conference and Conference Call
LG Electronics will hold a Korean language earnings news conference on October 24, 2012 at 16:00 Korea Standard Time at the LG Twin Tower Auditorium (B1 East Tower, 20 Yeoui-daero, Yeongdeungpo-gu, Seoul, Korea). An English language conference call will follow on October 25, 2012 at 10:00 Korea Standard Time (01:00 GMT/UTC). Participants are instructed to call +82 31 810 3069 and enter the passcode 9084#.
The corresponding presentation file will be available for download at the LG Electronics website
(www.lg.com/global/ir/reports/earning-release.jsp) at 13:30 on October 24, 2012.
Please visit http://pin.teletogether.com/eng/ and pre-register with the passcode provided. For those unable to participate, an audio recording of the news conference will be available for a period of 30 days after the conclusion of the call. To access the recording, dial +82 31 931 3100 and enter the passcode 142670# when prompted.

Via : LG (PDF)

Corning touts that now Gorilla Glass protects 1 billion devices from scratches

 

In its quarterly earnings report, Corning announced it’s protective Gorilla Glass screen is now used to protect more than 1 billion devices from scratches worldwide.

 

You could argue that toughened glass is the cornerstone of the modern mobile industry: without the knowledge that our touchscreen phones and tablets could survive the everyday risks of scratches and minor drops, many of us would be terrified of leaving home with a glass-covered mobile device in our hands. Corning now has evidence to prove just how important that silicate can be. Gorilla Glass is used by every company imaginable including the big dogs like Apple, Samsung, Nokia, HTC, LG, Sony and ASUS. The material helped the Specialty Materials division of corning to bring in $363 million in sales, which is a 21 percent increase over the same quarter of last year.

 

The company’s overall sales result in $2.04 billion, 7 percent on the last quarter and down 2 percent YoY.

 

Corning is also planning its next big product launch – an ultra-slim flexible glass dubbed Willow Glass.

According to Corning, the Willow Glass will be the key to new smartphone and gadget designs allowing curved glass surfaces at an affordable production cost.

 

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Official Press Release

Corning Announces Third-Quarter Results

Record sales of Corning® Gorilla® Glass
New agreements with LCD customers

CORNING, N.Y., October 24, 2012 – Corning Incorporated (NYSE:GLW) today announced its results for the third quarter of 2012.

Third-Quarter Summary

Sales were $2.04 billion, up 7% from quarter two and down 2% year over year.
Earnings per share were $0.35. Excluding special items, earnings per share were $0.34,* up 10% sequentially, and down 29% year over year.

Display Technologies total glass volume, from Corning’s wholly owned business and Samsung Corning Precision Materials Co., Ltd., was up by a low-double digit percentage, as expected. Price declines remained moderate.

Specialty Materials sales were up 23% sequentially and 21% year over year, driven by strong growth in Corning® Gorilla® Glass volumes, and much higher than expected.

Telecommunications sales decreased 6% sequentially and 7% year over year, and were lower than expectations.

Quarter Three Financial Comparisons

	Q3 2012	Q2 2012	% Change	Q3 2011	% Change
Net Sales in millions	$2,038	$1,908	7%	$2,075	(2%)
Net Income in millions	$521	$462	13%	$811	(36%)
Non-GAAP Net Income in millions*	$514	$465	11%	$766	(33%)
GAAP EPS	$0.35	$0.30	17%	$0.51	(31%)
Non-GAAP EPS*	$0.34	$0.31	10%	$0.48	(29%)

*These are non-GAAP financial measures. The reconciliation between GAAP and non-GAAP measures is provided in the tables following this news release, as well as on the company’s investor relations website.

Reflecting on the company’s third-quarter performance, Wendell P. Weeks, chairman, chief executive officer, and president, said, “We were pleased with Corning’s overall performance this past quarter as we grew sales and earnings sequentially, and exceeded our expectations for the period.

“We are making progress on our goal to improve Corning’s overall profitability. We had our strongest quarterly sales to date for Corning Gorilla Glass. Our Display Technologies segment continued to stabilize its earnings with another quarter of moderate LCD glass price declines. However, weakening global economic conditions worked against our sales results in Telecommunications and Environmental Technologies.”

Weeks referenced Corning’s entry into new supply agreements with industry-leading LCD display manufacturers this past quarter. “These new customer agreements will assist us in maintaining Corning’s market position at specified levels and contain mechanisms that establish a relationship between Corning’s glass price and the market’s glass price. We believe these new agreements will allow us to manage our capacity more efficiently and enable us to continue improving our cost position,” he said.

Third-Quarter Segment Results

Sales in the Display Technologies segment were $763 million, a 19% sequential increase and 6% year-over-year decline. Glass price declines for LCD were moderate, as expected.

Telecommunications segment sales were $523 million, declining 6% sequentially and 7% year over year. The decline was driven by lower sales in North America and Europe, partially offset by growth in China. North American sales were impacted by certain project delays and a winding down of U.S. stimulus spending on optical cable in support of telecommunications infrastructure projects. European sales were impacted by a softening in market demand.

Specialty Materials segment sales were $363 million, a 23% sequential and 21% year-over-year increase driven by Gorilla Glass sales in the handheld and information technology device markets. Sales of semiconductor products were down sequentially and year over year.

Environmental Technologies segment sales were $233 million, a 6% sequential and year-over-year decline. Following the summer’s seasonal manufacturing shutdowns, higher light-duty diesel product sales were offset by lower sales of heavy-duty diesel filters and substrates. Orders for heavy-duty emissions products declined substantially as truck demand slowed significantly in the third quarter and manufacturers began to manage inventory.

Life Sciences segment sales were $155 million, down 4% sequentially and up 1% year over year. The company expects its acquisition of the majority of the BD Discovery Labware unit to be completed this year, pending regulatory approvals. When complete, the acquisition will be integrated into Corning’s Life Sciences business segment, providing a much broader portfolio of high-quality laboratory research products and expanded global market reach.

Dow Corning Corporation’s equity earnings were $48 million, down 21% sequentially, driven primarily by the absence of two non-recurring gains in the second quarter, and a higher tax rate. Dow Corning’s equity earnings were down 46% on a year-over-year basis, driven by severe weakness in the solar polysilicon market.

Corning’s gross margin for the quarter was 43%, up slightly over the previous quarter. The company ended the second quarter with $6.4 billion in cash and short-term investments. Corning continued to purchase outstanding common stock throughout the quarter, and expects to complete its stock repurchase program in the fourth quarter.

Looking Forward

“In quarter four, we will build on the great strides we have made toward achieving positive momentum in our LCD glass business,” James B. Flaws, vice chairman and chief financial officer said. “It was nearly one year ago that our LCD business experienced an upset that significantly reduced our profitability. Since then, we brought our glass capacity in line with demand, made significant progress in moderating LCD glass price declines, and established new supply agreements with key customers.”

The company has the following fourth-quarter expectations:

In Corning’s wholly owned display business and Samsung Corning Precision, total glass volume is expected to be consistent to down low-single digit percentage sequentially, depending on the level of normal seasonal inventory correction expected from panel manufacturers. Corning anticipates price declines for the fourth quarter will be slightly higher than the previous two quarters.

Telecommunications segment sales are anticipated to be consistent with third-quarter performance. Normal seasonal declines are expected to be offset by continued demand for optical fiber and cable products in China.

Specialty Materials segment sales are anticipated to be consistent with the record performance of the third quarter. Gorilla Glass sales are expected to remain strong in the fourth quarter.

Environmental Technologies segment sales are expected to be even to down slightly from the previous quarter.

In the Life Sciences segment, Corning forecasts sales to be down about 5% sequentially, driven by normal seasonality.

Corning’s tax rate is anticipated to be approximately 19% in the fourth quarter, and for the year in total.

“The weakening economy is affecting sales in many of our businesses, with several not achieving the growth expectations we set for the year. We believe these economic headwinds will persist next year. In order to deliver on our plan to grow earnings, we are likely to implement selected cost reductions in the areas of project spending, capital expenditures, and fixed costs, which may include modest headcount reductions,” Flaws said. “Once the restructuring plan is determined, we anticipate taking a pretax charge of up to $50 million in the fourth quarter to cover the cost of that restructuring.”

“We are executing our strategy to improve profits and deliver new growth opportunities, despite these challenges,” Flaws said. “Gorilla Glass, now available on more than one billion consumer electronics devices around the world, has been a resounding success for Corning, and we continue to bring other new technologies to market. We are excited about the development of Corning® Willow™ Glass, an ultra-slim flexible glass that we believe could revolutionize the shape and form of next-generation consumer electronics technologies, and we are experiencing success introducing new high-speed wireless connectivity solutions that greatly expand bandwidth capabilities in large venues such as stadiums and arenas. Moreover, we continue to supplement our organic growth with strategic acquisitions that expand our product offerings and increase our market access,” he said.

Flaws added, “These positive prospects, combined with Corning’s continuing strong operating cash flow and declining capital spending, gave the board of directors confidence to increase the company’s dividend payout by 20% earlier this quarter.

“Corning is executing the strategy we laid out to investors at the beginning of the year, and we believe our future is very bright.”

Samsung Electronics reveals earnings guidance for Q3 2012, expects more

Samsung has announced its earning guidance for Q3 2012 and expects yet another record breaking quarter (fourth in a row). According to the preliminary report, the company is expecting an achieve an operating profit of $7.28 billion.

In fact, this is more than double the operating profit Samsung got in Q3 2011 and considerably more than the last quarter’s $5.86 billion. Consolidated sales are estimated to be around $46 billion.

In the full Q3 2012 financial report, which is expected to be released before October 26, everything will be broken down by departments, so that we can see how big of a role the mobile department has played. One thing is certain, Samsung is on a roll and it doesn’t plan on stopping soon.

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Official Press Release

Samsung Electronics Announces Earnings Guidance for Third Quarter 2012
Consolidated revenues estimated at 52 trillion Korean won
Operating profit at 8.1 trillion won

SEOUL, Korea – October 5, 2012 – Samsung Electronics Co., Ltd. today announced its earnings guidance for the third quarter, 2012.

Consolidated Sales : Approximately 52 trillion Korean won
(Range: 51 – 53 trillion Korean won)

Consolidated Operating Profit : Approximately 8.1 trillion Won
(Range: 7.9 – 8.3 trillion Korean won)

The above figures are consolidated earnings estimates based on K-IFRS

※ ’12 2Q and ’11 3Q consolidated figures based on K-IFRS are as follows

(in trillion won)
’12 .2Q
‘11.3Q
Sales
47.60
41.27
Operating profit
6.72
4.25

Disclosure regulations in South Korea do not allow earnings guidance to be provided as a range, therefore the official disclosure was made based on the median value as stated above.

The guidance is provided ahead of the full announcement of quarterly earnings results for the convenience of investors and media, before our external audit on the financial results of our headquarters, subsidiaries and affiliates is completed. Therefore, the above estimate may differ from the actual results.

The full earnings for the third quarter will be disclosed following the Board of Directors’ approval of the financial statements and quarterly reports.

About Samsung Electronics Co., Ltd.

Samsung Electronics Co., Ltd. is a global leader in semiconductor, telecommunication, digital media and digital convergence technologies with 2011 consolidated sales of US$143.1 billion. Employing approximately 206,000 people in 197 offices across 72 countries, the company operates two separate organizations to coordinate its nine independent business units: Digital Media & Communications, comprising Visual Display, Mobile Communications, Telecommunication Systems, Digital Appliances, IT Solutions, and Digital Imaging; and Device Solutions, consisting of Memory, System LSI and LED. Recognized for its industry-leading performance across a range of economic, environmental and social criteria, Samsung Electronics was named the world’s most sustainable technology company in the 2011 Dow Jones Sustainability Index. For more information, please visit http://www.samsung.com.

 

Via : Korea IT Times

RIM or Research In Motion Reports Second Quarter Fiscal 2013 Results : $2.9 billion in revenue, and $235 million loss

 

RIM (Research In Motion) has released its financial results for the second quarter of the year (the company changed from a fiscal year) and despite reported a loss of 235 million dollars, n ‘is not as bad as the previous quarter, when the loss of Canadian society was double.

In the case of income of Canadian society are $ 2.9 billion, that’s 31% less year-over-year. RIM managed to ship 7.4 million smartphones and approximately 130,000 PlayBook tablets, and has a range of a total of 80 million BlackBerry subscribers.

RIM (Research In Motion) reported $ 2.3 billion in cash and assets on hand. This is a slight increase from the fourth quarter of $ 2.2 billion. The Canadian smartphone maker says that everything goes as planned for the future BlackBerry 10, which is scheduled for launch early next year and the Canadian company looks forward to better times when the refreshed OS arrives on the market.

Source : TheVerge