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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (165)	10/30/2001 1:10:08 PM
From: Proud_Infidel	Respond to of 25522

Mitsubishi's net income down 98% in first fiscal half EBN (10/30/01 12:34 p.m. EST) Mitsubishi Electric Corp. Tuesday reported net income of $13 million for the first fiscal half ending Sept. 30, down 98% from $615 million for the same period a year ago. For the full fiscal year ending next March 31, the firm said it expected to post net income of only $16 million. Sales for the first half totaled $14.4 billion, down 7% from the year-ago period. In a breakdown by business segments, the electronic devices group is expected to incur a $400 million operating loss for the fiscal year ending next March 31, compared to a $775 million operating profit for the previous fiscal year. Sales for the group in the fiscal year are forecast at $4.5 billion, down from $5.8 billion for the previous year. The information and communication systems group is expected to post an operating loss of $170 million for the year, compared to a $105 million loss in the previous year. Industrial automation systems is predicted to have a $235 million operating profit for the year, down from $445 million in the previous fiscal year.