Japan's Fujitsu hit by third-quarter loss

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.

The firm, which provides information technology services and makes computers and cellphones, booked a net loss of 4.3 billion yen ($56 million) in the fiscal third quarter, sharply down from a 16.5 billion yen profit a year earlier.

Operating profit slumped to 3.1 billion yen from 21.2 billion on sales of 1.08 trillion yen, down 1.5 percent.

The slump was mainly due to a strong yen, stagnant semiconductor sales, restructuring costs and the impact of flooding in Thailand, it said, adding that concerns over the European debt crisis also affected businesses overseas.

Fujitsu said it revised downward its net profit forecast from 60 billion yen to 35 billion yen for the year to March.

Full-year operating profit is now seen at 100 billion yen, down from 135 billion yen, while projected sales are downgraded to 4.49 trillion yen from 4.54 trillion yen.