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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: John Madarasz who wrote (42626)	3/8/2000 11:04:00 PM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 99985

Problems in TECHNOLAND Fujitsu Says May Miss Profit, Sales Forecasts; Shares Tumble for 2nd Day By Mari Murayama (Adds analyst's comments in paragraph four, updates trading.) Tokyo, March 9 (Bloomberg) -- Fujitsu Ltd., Japan's largest computer maker, said it may fall short of its profit and sales forecasts this year as it faces tough price competition. The profit shortfall will come in the year that will end in March, a company spokesman said, though he declined to provide details. Fujitsu shares fell for a second day, sliding as much as 200 yen, or 5.6 percent, to 3,390, after a 5 percent drop yesterday. The shares last traded at 3,470, down 120. A total of 4.8 million shares changed hands by late morning in Tokyo, compared with the six-month full-day average of 7.2 million shares. ``Their pretax profit could fall short of forecast by about 50 billion yen, and net income by 20 billion yen,' said Takashi Mimura, an analyst at Societe Generale, who rates the stock a ``buy.' ``Price competition for mainframes and other hardware equipment' will likely trigger the shortfall. In October, Fujitsu forecast consolidated earnings for the year of 60 billion yen ($560 million) on sales of 5.5 trillion yen. The company forecast current profit, or pretax profit from operations, of 140 billion yen.