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Toshiba's results up, Sanyo's down

Posted: 02 Feb 2006 ?? ?Print Version ?Bookmark and Share

Keywords:Sanyo Electric? Toshiba?

Japan's Sanyo Electric Co. and Toshiba Corp. are going in different directions, based on their financial results.

Propelled by its flash-memory chip business, Toshiba said group net profit was $186.5 million for the quarter, up from a year-earlier $13.6 million profit. Quarterly sales rose 16 percent to $13.5 billion.

For the fiscal year through March, Toshiba expects a profit of $553.5 million, up from its earlier projection of $468 million. Toshiba also raised its fiscal 2005 sales outlook to $53.7 billion from $51 billion.

Meanwhile, troubled Sanyo reported a group net profit of $53 million for the quarter, compared to a $150 million during the same period the previous year.

Sales fell 1.5 percent to $5.2 billion for Q3 from $5.3 billion a year earlier. Sanyo kept its projection for a $2 billion loss for the full year through March.

EE Times

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