NEC Electronics Reports Financial Results for the First Quarter Ended June 30, 2008
KAWASAKI, Japan, July 30, 2008
NEC Electronics Corporation (TSE: 6723) today announced consolidated financial results for the first quarter ended June 30, 2008.
Summary of Consolidated Financial Results
|
|
Three Months Ended
June 30, 2007
|
Three Months Ended
June 30, 2008 |
Increase(Decrease)
|
|
|
Net sales
|
|
Sales from semiconductors
|
|
Operating income (loss)
|
Income before
income taxes
|
|
Net loss
|
|
Billion
Yen
|
% of Net Sales
|
|
173.6
|
100.0
|
|
165.0
|
|
|
(2.2)
|
(1.3)
|
0.4
|
0.3 |
|
(1.3)
|
(0.8)
|
|
Billion
Yen |
Million
USD |
% of Net Sales |
| 166.3 |
1,569 |
100.0 |
| 159.2 |
1,502 |
|
| 1.7 |
16 |
1.0 |
0.3
|
3
|
0.2 |
| (1.3) |
(12) |
(0.8) |
|
Billion
Yen
|
% Change
|
|
(7.3)
|
(4.2)
|
|
(5.8)
|
(3.5)
|
|
3.9
|
---
|
(0.2)
|
(36.2) |
|
0.0
|
---
|
|
|
Net loss per share of common stock:
|
|
Basic
|
|
Diluted
|
|
|
Yen |
USD |
|
| (10.66) |
(0.10) |
|
| (10.66) |
(0.10) |
|
|
Yen
|
% Change
|
|
0.08
|
---
|
|
0.08
|
---
|
|
|
|
Capital expenditures
|
Depreciation and
amortization
|
|
R&D expenses
|
|
Billion
Yen |
|
| 12.3 |
|
17.7 |
|
| 29.3 |
|
|
Billion
Yen |
Million
USD |
|
| 9.3 |
87 |
|
15.9 |
150 |
|
| 26.4 |
250 |
|
|
Billion
Yen
|
% Change
|
|
(3.0)
|
(24.5)
|
(1.7)
|
(9.9)
|
|
(2.9)
|
(9.9)
|
|
|
|
|
Exchange rate (USD)
|
|
Exchange rate (Euro)
|
|
|
|
|
| |
March 31, 2008 |
June 30, 2008 |
Increase(Decrease)
|
|
|
Total assets
|
|
Shareholders' equity
|
|
|
Billion
Yen |
Million
USD |
|
| 621.2 |
5,860 |
|
| 230.1 |
2,171 |
|
|
Billion
Yen
|
% Change
|
|
4.9
|
0.8
|
|
3.0
|
1.3
|
|
|
|
|
Notes
|
|
1.
|
U.S. dollar amounts are translated from yen, for convenience only, at the rate of ¥106=U.S.$1.
|
|
2.
|
All figures are rounded to the nearest 100 million yen.
|
|
3.
|
The consolidated financial statements of NEC Electronics are prepared in accordance with accounting principles generally accepted in the United States, or U.S. GAAP.
|
|
4.
|
The figures for operating income (loss) shown above represent net sales minus the cost of sales, research and development expenses, and selling, general and administrative expenses.
|
| 5. |
Net loss per share of common stock is calculated based on Statement of Financial Accounting Standards ("SFAS") No.128, "Earnings per share". |
| 6. |
The figures for shareholders' equity are prepared in accordance with accounting principles generally accepted in the United States, or U.S. GAAP. |
|
7.
|
The quarterly review by the external auditor for financial information in this fiscal result is not completed. After release of the financial result, subsequent event or quarterly review by the external auditor could change financial information. In such a case, corrected information will be promptly press released.
|
Forward-Looking Statements
The statements in this press release with respect to the plans, strategies and financial outlook of NEC Electronics and its consolidated subsidiaries (collectively "NEC Electronics") are forward-looking statements involving risks and uncertainties. We caution you in advance that actual results may differ materially from such forward-looking statements due to several important factors including, but not limited to, general economic conditions in our markets, which are primarily Japan, North America, Asia, and Europe; demand for, and competitive pricing pressure on, products and services in the marketplace; ability to continue to win acceptance of products and services in these highly competitive markets; and fluctuations in currency exchange rates, particularly between the yen and the U.S. dollar. Among other factors, downturn of the world economy; deteriorating financial conditions in world markets, or deterioration in domestic and overseas stock markets, may cause actual results to differ from the projected results forecast.
About NEC Electronics
NEC Electronics Corporation (TSE: 6723) specializes in semiconductor products encompassing advanced technology solutions for the high-end computing and broadband networking markets;
system solutions for the mobile handset, PC peripheral, automotive and digital consumer markets; and multi-market solutions for a wide range of customer applications.
NEC Electronics Corporation has subsidiaries worldwide including NEC Electronics America, Inc.
and NEC Electronics (Europe) GmbH.
More information about NEC Electronics worldwide can be found at www.necel.com.
Information in the press releases, including product prices and specifications is current on the date of the press announcement, but is subject to change without prior notice.
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