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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (59573)	1/29/2002 3:12:14 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Tuesday January 29, 3:07 PM Toshiba suffers huge third quarter loss, slashes full year forecast sg.biz.yahoo.com Japanese hi-tech giant Toshiba Corp. has announced a loss of 638 million dollars in the third quarter to December and further slashed a full year forecast due to a prolonged slump in global demand. The world's top maker of notebook computers suffered a net loss of 84.9 billion yen (638 million dollars) over the three months, against a net profit of 11.1 billion yen a year earlier, and posted a pre-tax loss of 143.6 billion yen from a profit of 13.3 billion yen. Sales faltered 12.9 percent to 1.21 trillion yen, as declining prices for electronic devices and information technology ate into profit margins along with costs from a drastic restructuring plan, Toshiba said. "The third quarter of the fiscal year saw a continuation of the economic downturn that hit the United States in 2000," the firm said in a statement. "The terrorist attacks of September 11 provided a further spur to economic decline and to subsequent worldwide recession," it said. Toshiba warned it would sink further into the red than previously forecast. It slashed full year predictions to March for the second time, with net losses now seen at 260 billion against a loss of 200 billion predicted in October. Its pre-tax loss would swell to 380 billion yen from 300 billion yen, on sales of 5.36 trillion yen, down from 5.46 trillion yen projected earlier.