Fujitsu posts Q1 loss, cuts profit forecast
Friday July 27, 1:15 am Eastern Time
TOKYO, July 27 (Reuters) - Japanese computer and chip making conglomerate Fujitsu Ltd said on Friday it posted a 42.3 billion yen operating loss in the April-June quarter and cut its full-year profit forecasts, hit by a global semiconductor slump.
For the first quarter of its business year, Fujitsu reported a 55.4 billion yen consolidated net loss on sales of 1.09 trillion yen. In its first-ever quarterly earnings report, Fujitsu also cut its consolidated operating profit target for the full business year to next March to a 80.0 billion yen from a 270 billion yen forecast issued in April.
Analysts have said Fujitsu's forecasts were too rosy, given this year's sharp downturn in demand for personal computer, cell phone and other information-technology goods. Many had recently cut full-year operating profit targets for the company to the 130 billion to 170 billion yen range.
Fujitsu, the world's third-largest maker of flash memory chips used in cell phones and consumer electronics, embarked on an ambitious plan to expand flash production capacity this business year, although flash memory prices have tumbled in recent months as growth in cell phone demand ground to a halt.
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Friday July 27, 1:26 am Eastern Time
Fujitsu sees Y280 bln H1 special restructuring loss
TOKYO, July 27 (Reuters) - Japanese computer and chip making conglomerate Fujitsu Ltd said on Friday it will post a 280 billion yen ($2.26 billion) special loss in the six months to September 30 to restructure its operations and boost earnings.
The announcement coincided with a sharp downward revision in its earnings forecasts for the full business year and a 55.4 billion yen consolidated net loss for its first quarter as it faces the brutal consequences of this year's protracted slump in the information technology sector.
The company, the world's third largest maker of flash memory chips used in cell phones and consumer electronics, also pared back a plan to boost flash memory production capacity that analysts had said was too aggressive given the current downturn.
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