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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (8416)	2/4/2003 1:18:27 AM
From: StanX Long	Read Replies (1) \| Respond to of 95761

Hitachi ekes out Q3 profit, keeps full-yr targets Tuesday February 4, 12:46 am ET TOKYO, Feb 4 (Reuters) - Hitachi Ltd (Tokyo:6501.T - News), Japan's largest electronics maker, eked out a net profit in quarterly results released on Tuesday, lifted like its Japanese peers by cost cuts despite a lingering IT slump and economic uncertainty. Hitachi, also Japan's third-largest chipmaker, stuck to earnings targets for the full year to March 31 which were revised downward in October, although there have been recent signs of weakness in some areas of the semiconductor market. For the third fiscal quarter ended on December 31 it posted a consolidated net profit of 1.33 billion yen ($11.05 million), compared with a 115.82 billion yen net loss a year earlier. Operating profit came in at 12.90 billion yen, versus the prior year's loss of 69.29 billion yen, while revenues rose five percent to 1.92 trillion yen. Few analysts had issued formal forecasts for the company's debut third-quarter results, although one estimate had pegged operating profit at 4.0 billion yen while another forecast 30 billion yen. Hitachi is projecting a net profit of 36 billion yen for the year ending on March 31, rebounding from last year's record loss of 483.8 billion yen, while operating profit is seen at 150 billion yen profit after a year-earlier loss of 117.4 billion yen. Its revenue target was left unchanged at 8.05 trillion yen, a marginal 0.7 percent rise from the year before. Shares in Hitachi and Mitsubishi Electric Corp (Tokyo:6503.T - News) are up more than 15 percent since the start of the year, while fellow chip and electronics conglomerates NEC Corp (Tokyo:6701.T - News), Fujitsu Ltd (Tokyo:6702.T - News) and Toshiba Corp (Tokyo:6502.T - News), as well as the Tokyo Stock Exchange's electrical machinery index (^IELEC.T - News), are mostly flat. ($1=120.30 Yen)