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

To: StanX Long who wrote (63043)	4/21/2002 11:36:31 PM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Hitachi Software to Report Record Net Profit for FY01 sg.news.yahoo.com TOKYO, April 22 Asia Pulse - Hitachi Software Engineering Co. (TSE:9694) expects to book a record group net profit for fiscal 2001 of just over 7 billion yen (US$53.7 million), up 2 per cent from the prior year. The positive results reflect the favorable performance of the firm's joint business with Microsoft Corp. of the U.S. But due to strong requests for price discounts from customers, results were below earlier expectations of 7.56 billion yen. For the fiscal year ending March 31, 2003, group net profit is expected to fall 12 per cent to 6.2 billion yen due to expenses stemming from the move of the headquarters. In fiscal 2001, consolidated sales rose 13 per cent to 207 billion yen, reflecting strong demand for systems development from financial institutions sparked by industry realignment. In the second half of fiscal 2001, demand for price discounting grew and sales of low-margin information-processing equipment increased 26 per cent. Due to these factors, consolidated pretax profit gained 2 per cent to 13.3 billion yen, below predictions of 14.44 billion yen.