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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting
QCOM 155.82-1.3%Jan 23 9:30 AM EST
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To: Ramsey Su who started this subject11/15/2001 4:15:34 AM
From: brational   of 197351
 
KDDI's positive surprise

11/15 01:48
KDDI Corp. First-Half Group Net Income Tops Forecast (Update1)
By Ian Messer

Tokyo, Nov. 15 (Bloomberg) -- KDDI Corp., Japan's second- largest mobile-phone operator, posted better-than-expected first- half profit.

KDDI also boosted its full-year forecast for group net income to 63 billion yen from its previous forecast of 35 billion yen. The forecast boost stems from proceeds of building securitization, KDDI said.

Tokyo-based KDDI reported group net income of 6.7 billion yen ($55 million), or 1578.55 yen a share, in the six months ended Sept. 30. Sales totaled 1.46 trillion yen.

Net income topped KDDI's Sept. 28 forecast of 5 billion yen on revenue of 1.47 trillion yen.

KDDI said group net income fell 22 percent from 8.6 billion yen in the year-earlier period, before KDDI was formed in a three- way merger last October. Revenue rose 70 percent from the 858.9 billion yen reported for the year-earlier period.

It wasn't immediately clear how the year-ago figures were calculated.

KDDI shares rose 22,000 yen, or 7.4 percent, to 318,000 yen, with the gain coming in the closing minutes of trading, when the company released the results.

The shares have dropped 42 percent this year.

quote.bloomberg.com
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