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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (60791)	2/21/2002 1:56:16 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Pioneer Shares Rise on Plan for Wider Profit Margin Next Year By Keiko Kambara and Kyoko Suzuki quote.bloomberg.com Tokyo, Feb. 21 (Bloomberg) -- Pioneer Corp. shares rose after President Kaneo Ito said profit margin at the maker of DVD players and plasma displays will widen in the next fiscal year as sales increase and the company moves some production to China. The shares gained as much as 170 yen, or 7.6 percent, to 2,420. More than 987,700 shares changed hands, compared with the average daily turnover of about 1.2 million in the past six months. Pioneer, which last month cut its annual net income goal by 14 percent, will increase group operating profit to account for more than 4 percent of overall revenue in the year to March 31, 2003, Ito said at an analyst meeting yesterday. That's up from an estimated 3.4 percent this fiscal year. The company plans to improve earnings by increasing sales of electronics and shifting some production to China to lower costs. ``The next fiscal year will be crucial for us,'' Ito said. Pioneer plans to increase sales of consumer electronics and software by ``between 5 percent and 10 percent,'' he said.