Entries in Financial Report (4)


Home Depot Reports 72 Percent Increase in Fourth Quarter Earnings

Photo Courtesy - Tim Sloan/AFP/Getty Images(ATLANTA) -- Home Depot came out with its latest financial report Tuesday, showing an increase in net earnings by 72 percent in the fourth quarter.

The world's largest home improvement retailer said earnings went up to $587 million, or 36 cents per diluted share, for the three months ended Jan. 30, compared to the $342 million it earned in the same time period the year before.

The retailer also said sales increased by 3.8 percent to $15.13 billion in the fourth quarter, up from $14.57 billion in the same quarter the previous year.

"In 2010, we continued to invest in our business and made solid progress against our key initiatives," Frank Blake, chairman and CEO of Home Depot, said.  "We completed the rollout of our Rapid Deployment Centers, an important part of our distribution network; we saw year-over-year improvement in customer service ratings; and we continued progress on our merchandising transformation.  Our actions, coupled with an improving economy, resulted in positive sales growth for the year, the first time since 2006."

Copyright 2011 ABC News Radio


Nissan Reports 78 Percent Jump in Profits for Third Quarter

Photo Courtesy - Nissan North America(TOKYO) -- A day after Toyota reported a bad third quarter, Nissan announced the opposite news.

Nissan's latest financial report released Wednesday shows profits for the Japanese automaker jumped 78 percent in the third quarter, compared to the same time period the previous year.  Nissan said its net profit was 80.1 billion yen -- the equivalent of $972 million -- for the three months leading to the end of December.  During the same time last year, the automaker profitted 45 billion yen.

Nissan said strong sales in North America and Asia helped offset sluggish sales back home in Japan.

The company also raised its vehicle sales forecast for the full year -- up 19 percent from the previous fiscal year.

Copyright 2011 ABC News Radio


Toyota's Nine-Month Profits Quadruple Despite Drop in Third Quarter

Photo Courtesy - Ted Aljibe/AFP/Getty Images(TOKYO) -- Toyota Motor Corporation released its latest financial report Tuesday, announcing its net income -- despite dropping close to 39 percent in the third quarter -- nearly quadrupled in the nine months leading to the end of 2010.

The Japanese automaker said its net income for the nine months leading to Dec. 31, 2010 went up to 382.7 billion yen from last year's total of 97.2 billion yen.

"Strong vehicle sales, especially in emerging markets such as Asia, Central and South America, and Africa, contributed to the increase in operating income in the nine-month period," TMC Senior Managing Director Takahiko Ijichi said.  "These regions are now increasingly representing one of the pillars supporting our earnings."

The increase comes after Toyota reported its net income dropped to 93.6 billion yen in the third quarter from 153.2 billion yen during the same time period the year before.

Forecasting the new fiscal year, Ijichi said, "In addition to an improving vehicle-sales outlook in Japan, Asia and Russia, the progress of our company-wide profit improvement activities, such as further reduction of variable costs and control over fixed costs, has exceeded our earlier expectations.  As a result, we now expect to overcome the rapid and acute yen appreciation and achieve a substantial increase in operating income.  One can therefore see that our earnings are firmly recovering."

Copyright 2011 ABC News Radio


Kinect Sensor Boosts Microsoft to Record $19.95-Billion Revenue

Photo Courtesy - Microsoft(REDMOND, Wash.) -- Microsoft sold eight million units of its Kinect gaming device, the $150 Xbox accessory that allows for remote-less gameplay.  The company estimated that it would sell five million of the devices, but just 60 days after its release, Kinect sales exceeded Microsoft's goal by three million.

“We are enthusiastic about the consumer response to our holiday lineup of products, including the launch of Kinect. The eight million units of Kinect sensors sold in just 60 days far exceeded our expectations,” Peter Klein, the Microsoft chief financial officer said in a statement Thursday.

The technology giant reported record revenues and earnings per share while disclosing the financial results from its fiscal second quarter.  Microsoft says that its $19.95 billion in revenue and $0.77 per share were driven mainly by the 55 percent growth in the Entertainment & Devices Division.  Microsoft credits the Kinect sensor for the upsurge in Xbox 360 console and game sales as well as Xbox Live subscriptions.

Copyright 2011 ABC News Radio

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