Paris-based consumer electronics maker Thomson said its core (media and entertainment) businesses had revenues of 1.257 billion euros (approx. U.S. $1.548 billion) for the first quarter 2006, for an increase of 5 percent over first quarter 2005 core revenues of 1.195 billion euros (approx $1.47 billion). Excluding increased currency movement revenues, core business revenues increased 1 percent year-over-year. Total reported revenues for the group for the quarter were 1.294 billion (approx. $1.59 billion).
Group revenues are broken down for analysis purposes between the three media and entertainment divisions, which are Services, Systems & Equipment and Technology, collectively making up Thomson core businesses, and Thomson’s displays and consumer electronics partnerships activity, which are considered non-core.
Non-core activity had first quarter revenues of 37 million euros (approx. $45.6 million). This figure excludes activities treated as discontinued for the quarter - principally audio/video and accessories businesses, which are held for sale.
“Our 'booster' businesses have continued their good progress in the first quarter, re-affirming our confidence in the future of Thomson as the leader in digital video technologies," said Thomson Chairman and CEO Frank Dangeard. "Among our more mature businesses revenues, we were pleased with the progress in set-top boxes. "
Speaking of future growth strategies for the company, Dangeard said. "The board has also started to examine the next phase of Thomson’s development, with a view to creating clear leadership in digital video technologies for Thomson in 2008. The Board believes this objective to be achievable through the continued development of Thomson’s key businesses, and by capitalizing on the Group’s unique combination of leading positions in attractive, growing markets, standard-setting technology and excellent client relationships, backed by appropriate financial resources and talent.”
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