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Hitachi announces multi-billion yen operating loss

February 6th, 2008 · No Comments

Sales may be up 11 per cent, but Hitachi’s consumer electronics and digital media business has still posted an operating loss of 15 billion yen in its latest quarterly financials. The pain is down slightly from the 19 billion yen loss 12 months earlier, but it has led the company to revise downwards its net profit outlook for the fiscal year ending March 31. In a statement, the company added: ‘Third quarter operating income declined 33 per cent year on year, to 10.2 billion yen, mainly the result of lower earnings at Hitachi High-Technologies as sales of LCD-related manufacturing equipment and certain other products declined.’
However the multi-stranded corporation said its telecommunications and heavy industry divisions have seen ‘significant improvement’. Group sales jumped 10 per cent to 2.71 trillion yen, while operating profit rose 27 per cent to 77.9 billion yen.

Tags: Corporate · LCD TV · Plasma · Trade

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