Hitachi forecasts wider loss
EE Times
(09/15/2006 1:02 PM EDT)
MANHASSET, N.Y.— Hitachi Ltd. has downgraded its six-month and year-end forecast for the fiscal 2006 year ending March 31, 2007.
For the fiscal 2006 year ending March, Hitachi expects revenue of ¥9,740 billion, up from ¥9,700 billion previously. Hitachi now expects a net loss of ¥55 billion, compared to net earnings for ¥55 billion previously.
For the six-month period ended Sept. 30, 2006, Hitachi now expects revenue of ¥4,660 billion, up from ¥4,590 billion forecast previously. However, Hitachi now expects a loss of ¥90 billion, compared to ¥10 billion.
Hitachi expects operating income for its Electronic Devices and High Functional Materials & Components segments to outperform initial projections. However, Hitachi has downgraded earnings projections for its other businesses.
In Hitachi's Information & Telecommunication Systems segment, profitability has worsened in hard disk drive operations due to a large drop in prices caused by stiffer competition. [Ed - Self-inflicted?]
Falling sales of DVD recorders are affecting performance of Hitachi's Digital Media & Consumer Products segment, the company said. |
