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Fujitsu, Elpida announce mixed forecast

Posted: 20 Apr 2006 ?? ?Print Version ?Bookmark and Share

Keywords:John Walko? Fujitsu? Elpida?

Fujitsu Ltd has revised its fiscal 2005 full year results and said Tuesday (April 18) it is on schedule to beat its net profit target for the year ended last month by 36 percent, mainly due to better than anticipated sales of hard disk drives, semiconductors and mobile phones.

The company said it now expected to record a group net profit of $580 million for the year ended March 2006, above its prior projection of $430 million and added that it would more than double the $270 million in net profit posted for the previous financial year.

Group sales for the period were, however, estimated at $41 billion, 0.2 percent down from the previous estimate issued at the end of January 2006.

The actual results will be revealed on April 27 when the company reports. The preliminary results were helped by a $40 million one-time gain for a change in accounting policies, according to Fujitsu.

Separately, Elpida Memory Inc. is estimating a net loss of between $34 million and $37.35 million for its fiscal year ending March 2006, weighed down by extraordinary losses and falling prices of DRAM chips. The figures also include provisions for antitrust settlements, and valuation losses on inventory and fixed assets.

Previously, Elpida was expecting a net loss of between $17 million and $51 million. The company said the picture was a little brighter on an operating basis, predicting anything between a $1.7 million profit and a $1.7 million loss. That compares with its prior forecast range of break-even to an operating loss of $34 million.

- John Walko
EE Times

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