Paris-based consumer electronics maker Thomson published results for the first half of 2006, reporting that core business revenue growth was at 1 percent in the first quarter of 2006, then accelerated to 8.4 percent at constant currency, compared in the second quarter. Overall, the board said, the company's performance reflected expected seasonality and trends in the businesses and was consistent with the group’s full-year financial objectives.
Thomson collectively terms its three media and entertainment divisions as Core Businesses: Services, Systems & Equipment and Technology. Thomson’s Displays and CE partnerships activity are termed Non-Core.
Net revenues for the first half of 2006 were 2.629 billion euros (approx. U.S. $3.347 billion), compared to 2.580 billion euros (approx. U.S. $3.285 billion) in the first half of 2005. Core business net revenues for the first half of 2006 were 2.569 billion euros (approx. U.S. $3.271 billion), compared to 2.405 billion euros (approx. U.S. $3.063 billion) in the first half of 2005.
“The first half saw a robust response from the group to challenging markets, consistent with our focus this year on execution, integration and synergies," said Chairman and CEO Frank E. Dangeard. "Estimated cost take-out opportunities for 2006 total 150 million euros (approx. U.S. $191 million), through which we expect to drive a significant improvement in our profitability year-on-year in the second half. The group’s broad offering in digital media enables us to expand our customer base and generate growth opportunities. The group starts the second half fully focused on achieving our annual objectives.”
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