NEC swings to quarterly net profit

Jan 31, 2013

Japanese information technology firm NEC said Thursday it had swung to a net profit in the October-December quarter, thanks in part to improved sales in defence systems and mobile networks.

The firm's came to 3.5 billion yen ($38.5 million), reversing an 86.5 billion yen net loss in the same period a year earlier.

Operating profit was 24.4 billion yen, also reversing a year-earlier loss, on sales of 722 billion yen, up 7.9 percent.

Cost-cutting also helped results, it said.

NEC left unchanged its forecast for the year until March of a 20 billion yen net profit on sales of 3.15 trillion yen.

Explore further: US newspaper industry revenue fell 2.6 pct in 2013

add to favorites email to friend print save as pdf

Related Stories

Japan's Fujitsu hit by third-quarter loss

Jan 31, 2012

Japanese high-tech giant Fujitsu plunged into a net loss for the three months to December, it said Tuesday, as it slashed its full-year sales and profit forecast.

Japan's NEC revises up profit forecast

Oct 19, 2012

Japanese information technology firm NEC said Friday it has revised its half year forecast from a loss to a healthy net profit, with reports saying demand for iPhones was helping the company.

Japan's NEC sees $1.36 billion net loss

Apr 27, 2012

Japanese IT firm NEC said Friday it lost $1.36 billion in the year to March as asset write-downs and tax payments hit its bottom line, even as operating profit rose.

NEC sees losses triple

Jan 27, 2011

Japan's NEC said Thursday its net loss in the October-December quarter almost tripled from a year earlier, blaming a delay in the recovery of IT-related capital investment in the country.

Japan's Fujitsu says posts 16% fall in Q1 profit

Jul 27, 2012

Japanese high-tech giant Fujitsu on Friday said its first quarter net loss widened and cut its sales forecast for the fiscal year as it was hit by weaker demand and a strong yen.

Recommended for you

US venture investments highest since 2001 (Update)

17 hours ago

Funding for U.S. startup companies soared 57 percent in the first quarter to a level not seen since 2001, as venture capitalists piled more money into a growing number of deals, according to a report due out Friday.

Weibo IPO below expectations, raises $285.6 mn

Apr 17, 2014

Sina Weibo sold fewer shares than expected in its US IPO which was priced below expectations ahead of a Thursday listing that takes place after tech selloffs on Wall Street.

User comments : 0

More news stories

LinkedIn membership hits 300 million

The career-focused social network LinkedIn announced Friday it has 300 million members, with more than half the total outside the United States.

Impact glass stores biodata for millions of years

(Phys.org) —Bits of plant life encapsulated in molten glass by asteroid and comet impacts millions of years ago give geologists information about climate and life forms on the ancient Earth. Scientists ...

Researchers successfully clone adult human stem cells

(Phys.org) —An international team of researchers, led by Robert Lanza, of Advanced Cell Technology, has announced that they have performed the first successful cloning of adult human skin cells into stem ...