Best Buy Co., Inc. reported unaudited consolidated earnings results for the first quarter ended May 4, 2013. For the quarter, the company reported revenue of $9,380 million compared to $10,373 million a year ago. Operating income was $168 million compared to $264 million a year ago. Earnings from continuing operations before income tax expense was $146 million compared to $239 million a year ago. Net earnings from continuing operations were $97 million or $0.29 per basic and diluted share compared to $169 million or $0.49 per basic and diluted share a year ago. Net loss attributable to shareholders of the company was $73 million or $0.24 per basic and diluted share compared to net earnings attributable to shareholders of the company of $158 million or $0.46 per basic and diluted share a year ago. Total cash used in operating activities was $5 million compared to total cash provided by operating activities of $379 million a year ago. Additions to property and equipment were $174 million compared to $141 million a year ago. Non-GAAP operating income was $186 million compared to $405 million a year ago. Non-GAAP net earnings were $110 million or $0.32 per diluted share compared to $262 million or $0.76 per diluted share a year ago.

The latest in Ultra High Definition television resolution, the Sony XBR 4K Ultra HDTV, is now available at Best Buy and bestbuy.ca. With four times more detail than full HD 1080p technology, TRILUMINOUS colour display, 4K X-Reality Pro to enhance low-res images and much more, the Sony XBR 4K offers the ultimate and most advanced television viewing experience. Sony was the first and only electronics manufacturer in Canada to offer 4K Ultra High Definition TV on the market with the 84" X900A and is now offering the 55 and 65-inch screen size options to Canadian consumers. Key Features of Sony 4K UHD TV: Images become lifelike with a resolution of four-times that of Full HD TV (3840 x 2160) delivers lifelike images; All content is viewed at the high resolution possible with enhanced images reaching near 4K with Sony's proprietary two-chip 4K X-Reality PRO picture engine; This enables comfortable viewing from 1/2 the distance of a current HDTV!; All colours, including difficult blues, greens and reds, are delivered naturally and accurately through TRILUMINOS(TM) Display; TRILUMINOS(TM) enables more colours than a conventional LED LCD TV; An immersive picture draws in viewers with blacker blacks and excellent contrast produced with dynamic edge-lit, LED backlighting; Amazing sound from the integrated 65 Watt, front-facing, magnetic fluid speaker system complements the stunning picture; A cinematic experience is brought to life through Full HD 3D and passive glasses; Entertainment choices are endless with WiFi(TM) connectivity, including access to the full Sony Entertainment Network suite of services.

Best Buy Co., Inc., Q1 2014 Earnings Call, May 21, 2013