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Sharp will be drastically cutting its number of employees over the next three years, as part of a plan to financially rectify itself. Out of the 51,000 currently employed by the company worldwide, Sharp will be reportedly cull 5,000 jobs across the board, with its main office in Osaka, Japan losing approximately half of its workforce.
Electronics retailer Best Buy is selling its stake in Carphone Warehouse Group to co-owner Carphone Warehouse, in its continued efforts to financially turn itself around. The sale, which sees Best Buy exchange its holdings in the European entity for £500 million ($774 million) in cash and stock according to a statement, effectively ends Best Buy's faltering expansion into the continent.
Sony has managed to earn its first annual profit in five years, according to its most recent full-year financial report. Net income for the year ending March 31st saw the company earn 40 billion yen ($403 million), an improvement from the 456.7 billion yen ($6.4 billion at the time) loss earned in the 2011-2012 fiscal year, and beating the 20 billion yen ($213 million) profit it reportedly expected to earn in previous reports.
Quarterly results from AT&T shows the company has managed to increase its year-on-year earnings by $100 million to $3.7 billion, matching the expectations of Wall Street. The financial information also tells that its consolidated revenues of $31.4 billion is down 1.5 percent compared to the same period last year.
Blackstone Group is ending its offer for control of Dell, citing a 14-percent drop in PC sales for the first quarter of 2013 and a lower earnings forecast for the current financial year. The withdrawal of Blackstone leaves founder Michael Dell and equity partner Silver Lake to fight with Carl Icahn for ownership of the PC manufacturer.
Verizon has managed to secure an extra 677,000 subscribers to its postpaid wireless service in the first quarter of this year. Quarterly financial results released by the carrier show it as having a total of 720,000 net retail connections for the quarter, with its entire wireless subscriber base hitting 98.9 million, a year-on-year increase of 6.4 percent.
Yahoo today released quarterly financial results that approached, but fell short of, Wall Street expectations. The company's net revenue reached $1.07 billion, the low end of what the company forecast in January, with analyst estimates at $1.1 billion. Yahoo said it earned $390 million, or 35 cents a share in the first three months of the year, compared to $286 million, or 23 cents in first quarter of 2012.
Processor designer ARM has revealed pre-tax profits have risen 16-percent in the fourth quarter of 2012, compared to the same period the year before. The rise sees the company earning £80 million ($126 million) from revenues of £164.2 million ($262.8 million), itself up by 21-percent from the £137.8 million ($217 million) in Q4 2011.
Closer analysis of the financial reports Apple has filed with the SEC reveals that some accounting changes the company made to increase transparency in its reporting of some expenditures and revenue has also revealed increases in both investments and profits in various divisions. The company increased its investment in Research & Development (R&D) by a full 33 percent in the December quarter, about the same as it did the year before. The reclassifications show that iTunes as a business is about the size of Microsoft's Windows and Office businesses.
Nokia made a profit of €439 million ($585 million) in the fourth quarter of 2012, according to recently released financial reports. Full year results for 2012 saw that the losses in previous quarters still puts the company at an overall loss of €2.3 billion ($3 billion), despite the Lumia-based sales uptick seen in the last quarter.
A financial institution in Maine has agreed to reimburse a construction company $345,000 that was stolen by hackers following a ruling that the bank had "commercially unreasonable" security precautions. People's United Bank has agreed to pay Patco Construction Company every cent it lost in 2009, plus $45,000 in interest after miscreants stole the Patco banking credentials and withdrew money from the account.
Acer has released its third quarter financial results, with its quarterly net profit of NT$68 million ($2.3 million) below that of a number of estimates. Reasons for the lackluster earnings were not forthcoming from the company, though it was noted that the profit is higher than the NT$56 million ($1.9 million) reached in the second quarter, and better than the net loss of NT$1.1 billion ($37 million) endured in Q3 2011.
As previously announced back in March, Apple has now launched its plan to buy back some $10 billion in stock as a way to offset the shares it has awarded to executives and senior personnel. The purchase plan spans three years and, although technically underway, is controlled by the discretion of the board, which will determine the best times in the coming 36 months in which to buy stock and in what quantities. The plan is not expected to have any significant impact on the company's financials, or affect the dividend the company will pay to investors.
Chipmaker Advanced Micro Devices (AMD) reports that ex-CEO and Chief Financial Officer Thomas Seifert is leaving the beleaguered company to pursue other opportunities. The announcement drove the share price down 12 percent in above-average trading volume of the stock. Seifert is departing to locate a permanent CEO position elsewhere according to sources familiar with the matter.
Acer has revealed its financial results for the second quarter, showing a sequential drop in revenue. Despite a maintained growth in PC shipments, consolidated revenue of NT$110.6 billion ($3.7 billion) is up 8.3 percent from the same time last year, yet is down 2.2 percent from last quarter. The company blames the worldwide total PC market downturn for the quarter, alongside "unfavorable economic conditions in Europe, the US, China, and Asia Pacific" weakening customer demand.
Apple is currently holding a conference call for its fiscal third quarter financial results. Refresh the page and watch below the break for updates from the event, posted with the latest additions on the top.
Verizon has released its second-quarter financial results, which benefited from 888,000 new wireless subscribers. The company is said to reach 94.2 million customers, marking a five percent jump compared to the same period last year. Total retail wireless service revenue surpassed $15.8 billion for the quarter, up 18.5 percent, while data revenues surged by $1.1 billion year-over-year to reach $6.9 billion.
Just one day after signing on a new CEO, Yahoo has disclosed quarterly financial information that points to stagnating revenues and a continued decline in profits. Year-over-year revenues shrank by one percent to $1.22 billion, while profits fell by 4.2 percent to $228.5 million.
After an unsubtle tease and open admission of testing on its company blog, IGG Software has formally unveiled its long-awaited iPad version of iBank, the company's personal financial-management software. The iPad version introduces a new subscription service that allows instant background updates of account balances from thousands of worldwide financial institutions, scheduled budgeting and can function as a standalone app without need of the desktop version.
HP has reported its fiscal second-quarter financials, pointing to a slight slide in net revenues to $30.7 billion. Earnings per share fell to $0.80, slightly higher than the internal forecast of $0.68 to $0.71, however the company nonetheless confirmed plans to eliminate eight percent of its workforce.
Yahoo's former senior director of business management, Robert W. Kwok, and a former mutual fund manager at Ameriprise Financial have agreed to settle insider trading charges. The Securities and Exchange Commission maintains that Kwok and fund manager Reema D. Shah shared confidential information after a chance meeting in 2008 and continued with the information exchange into 2009. Kwok pled guilty to conspiracy to commit securities fraud, and Shah pled guilty to conspiracy. Both await sentencing.
IGG Software, which is planning to release a version of its iBank financial software for the iPad sometime later this year, has teased a new feature of the unreleased app on its developer blog. The product now has a name -- iBank Access -- and will feature a new optional service to automatically keep bank records and the app in sync every time the app is launched. The new feature, which expands the number of institutions available, will be available by subscription.
Apple stock has surged past $400 per share in after-hours trading, gaining over six percent in additional value after the company announced yet another "best quarter ever" shortly after the markets closed for the day. Shares had already gained $3 to reach $376 earlier in the day, following a number of positive analyst forecasts ahead of the company's quarterly financial disclosures.
The iPad 2 is leading the way to improved financial numbers for Apple's fiscal third quarter, according to Apple analyst Maynard Um of UBS Equity Research. He is raising his forecast for the quarter -- Apple announces Q3 results July 19 -- due to stronger iPad sales, now estimated at 7.9 million units, alongside improved component pricing that Um projects will add 0.6 percent to Apple's gross margin. Shaw says a less dilutive back-to-school promotion that provides a $100 credit in apps on the App Store -- instead of $220 in free hardware with physical costs to Apple as was the case in previous years -- will factor into the improved margin as well.
Jumsoft has launched a major update to its financial software, Money 4. A redesigned interface, direct bank downloads and smart importing rules are on tap in version 4, which now uses a document-based system, allowing for multiple users to work in one license. The app now sports flexible transactions across multiple account types, such as cash, bank accounts, credit cards, investments, assets and loans. Budgeting is a focus of v4, with budget planning and monitoring of actual outcomes, while portfolio management is improved.
Apple's WWDC Keynote, announcing iCloud, iOS 5 and Mac OS X Lion, has sparked positive reaction from numerous Apple-focused financial analysts, with raised target prices between $460 and $510 per share. The analysts predicted increased sales of the iPad 2, acceptance of Apple's iCloud and iTunes Match service and the popularity of iOS 5 on refreshed hardware in the fall as part of the reason for their enthusiasm for Apple going into the remainder of the year.
Moneydance 2011 final has been released, two months after their preview version in March, adding direct support for importing from Quicken Essentials for Mac, the latest version of the personal Quicken product from Intuit. The new version of Moneydance also expands multi-currency abilities, adds new report and graph types, and features a new automatic transaction categorization engine that intelligently classifies transactions by itself. There's also a re-designed interface for confirming and editing downloaded transactions.
IGG Software has released an update to its financial software, iBank 4.2. The app can be used to manage and track activity from multiple sources including checking and savings accounts, credit cards, loans, 401k and investment accounts. The upgrade adds in-line editor calculations, improved transaction entry and split editing, and offers enhanced rules for complex imports.
Industry analyst Horace Dediu of Asymco has created an almost Mondrian-style financial chart presenting Apple's performance -- compared between the recently-released results of the company's 2010 fiscal fourth quarter (referred to as the calendar third quarter or CQ3) and the same period in 2009 -- to visually illustrate expenses, margins, profits and growth in a single, understandable graphic.
Metaview, a stock research and 3D market visualization tool, has been updated to v2.0, adding additional 3D features such as metaplots of volume data and 3D plotting of headlines and historic events. Developer Lyle Andrews has also added a "Dragnet" feature that searches for news stories related to stocks being analyzed, new faster OpenGL graphics and a more streamlined client/server architecture.
Thanks to the growing popularity of Macs in the business world, Mac users will soon be able to enjoy the benefits of remote deposit capture (RDC) directly from their computers, says a leading bank-software provider. "Remote deposit capture" refers to being able to scan checks and upload the image to a financial institution without ever having to physically deliver the actual check.
IGG Software today announced iBank 4, a major upgrade of its Mac money management software. The software allows users to monitor account balances, track investments, maintain budgets and manage credit cards. It can also generate reports for further financial analysis and can reconcile paper statements. iBank can manage checking accounts and savings accounts, as well as 401K accounts, lines of credit, money market accounts and loans. It can create and manage multiple budgets.
Synium has launched an update to its personal finance software, iFinance 3.2. The application tracks income and expenses, categorizing data to show spending trends. It imports financial data from CSV, QIF, OFX and MT90 formats and handles daily data from the company's iFinance iPhone app. It features limits for overall spending, or specific items in its budgeting module, and can alert the user when an incoming or outgoing payment is missing.
Jumsoft has launched an update to its budgeting software, Money. The financial management and budgeting tool allows users to track transactions across bank accounts and trading accounts. Users can make budget plans and monitor results. The utility can track portfolios, graphing quote history and variations of major world indices or a portfolio's market value. It can also schedule transactions, create invoices and generate income and expense reports.
Fast on the heels of releasing Jumsoft Money for the iPad (also iPhone compatible), Jumsoft has launched Money 3.5, updating the desktop version of the software with iPad sync capabilities. Money is financial management software with budgeting and bill tracking. It has report capability that allows for analysis of past income and spending and helps users focus on areas for improvement.
On the heels of several similar iPhone payments systems, "Simply Swipe It" has announced a new credit card payment app for the iPhone and iPod touch. Swipe It works with Macally’s QuickSwipe credit card reader to allow users to take credit card payments with their mobile device. The app supports both EPay and Authorize.net payment gateways, as well as existing merchant service accounts. For added convenience, the program also pulls contact information directly from the iPhone or iPod touch’s address book.
Synium Software has unveiled an update to its financial management software, iFinance 3.1, along with a complementary app for the iPhone and iPod touch. The desktop utility integrates a new database manager with improved performance, password protection, and a reconcile feature for comparing billing with debiting. The software enables users to create multiple databases, separating personal content from company business.
Werck BV has launched a major upgrade to its Mac-only point-of-sale software, Checkpoint 3. The app delivers tools for managing inventory stocks and can be used to handle a variety of cashier tasks including sales, receipts and invoices. The latest version offers a re-designed product manager, several function and performance improvements, and a new EnStore pay-as-you-go web store for Canada and the US. For simpler item management users can now add barcodes to products, which can be printed on either Avery or Dymo labels.
Apple is set to disclose its third-quarter FY09 financial information on Tuesday, July 21st. A conference call will be streamed live at 8:00 p.m. EDT on the company's website, while the recording will be available through the following two weeks.
Samsung Electronics on Thursday reported its first-quarter financial information, with net income totaling $459 million, which is 72-percent below last year's quarter, according to the Wall Street Journal. The lackluster performance was blamed on operating losses that exceeded a slight improvement in the consumer divisions. Despite the year-over-year decline, the company appears to have recovered from its first-ever operating loss reported last quarter.
Apple on Wednesday reported its financial information for the quarter ending in March, showing mixed results for product sales. Mac shipments were down three percent for the quarter, with sales of 2.22 million computers. Despite predictions that iPod sales would level off or even decline, the company sold over 11 million devices which marks a gain of three percent over last year's quarter.
Oranged has released a major update to Accounted, its financial software aimed at businesses; the app is claimed to calculate a company's books without requiring any accounting knowledge. Version 2.0 of Accounted is said to include 50 new features, among the most important being two new reports. Profit & Loss tracks net income over a given period, while Cash Flow tracks general cash activity.
Despite the buzz surrounding the unreleased Pre handset, Palm expects its financial report to show a continued decline in revenue through the third quarter of FY09 as the company experiences reduced demand for its older Centro and Treo devices. The delayed launch of the Treo Pro in the United States and the current economic recession have further contributed to the company's troubles.
Amid the economic woes, HP's fiscal Q109 financial results indicate declining revenue in the majority of its corporate divisions. The company saw a drop in revenue of 25 percent for desktop PCs, while notebook revenue was down 13 percent. Sales of printers, enterprise products and software followed a similar path. Overall net revenue showed a modest increase of 1 percent over last year, although net earnings dropped by 13 percent.
A v2.3.2 update is now available for Checkout, Werck's Mac-only point-of-sale software. The app handles a variety of cashier tasks, such as sales, receipts and invoices. The software can also be used to manage inventory stocks however, and generate reports on several forms of connected information.
Amid the flurry of financial disclosures this week, Yahoo has posted a net loss of $300 million for the fourth quarter of 2008, compared to a $205 million profit for the same quarter in 2007. The company achieved revenue of $1.81 billion through Q4, marking a drop of one percent from the same period a year earlier. International sales seem to have been hit harder, with a revenue drop of 10 percent, while domestic revenue was up 2 percent. Despite the effects of the weakened economy, revenues rose 3 percent to $7.21 billion for the whole year, while net income surpassed $424 million.
Samsung has joined the group of companies that have been hit particularly hard by the current state of economic strife, with its Q4 financial disclosure indicating an operating loss of 940 billion won (~$680 million USD). Quarterly net income totaled a loss of 20 billion won (~$14 million USD) and marks a first ever for the South Korean company. Contributing factors likely include lowered demand for TVs, computers, handsets and a variety of other electronics.
Chip-maker AMD today disclosed its Q4 financial information, reporting a net loss of $1.42 billion and a revenue drop of 33 percent compared to last year's quarter. The $1.16 billion revenue even fell below the warning announced in December that anticipated $1.2 billion, which already included a 25 percent drop from the forecast made in the previous quarter. The company isn't alone in its struggles through the economic strife, with Intel last week indicating a similar loss of $1.1 billion through the same period.
Synium Software has released a public beta of its new personal finance software, iFinance 3.0. The third edition features interactive 3D charts, a new workflow, a customizable user interface and a budgeting feature. The app manages a user's entire cash flow, and breaks expenses out into categories. The 3D charts give users a quick way of tracking spending and investment patterns, and can be customized to user preference. Stocks, quotes and portfolio performance are tracked in the program, which also generates detailed information about profits and losses.
No Thirst Software has introduced MoneyWell 1.4, the latest version of the company’s personal finance software, in which users create a spending plan and flow the income into expense buckets. New features for the update include direct-download capabilities for financial institutions, enabling one-click transaction list updates; CSV import support, with custom field mapping; and the ability to attach receipt documents and e-mails to transactions. The update also offers a redesigned interface, along with improved duplicate transaction matching and merging.
