NEC swings to quarterly net profit

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.


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(c) 2013 AFP

Citation: NEC swings to quarterly net profit (2013, January 31) retrieved 5 April 2020 from https://phys.org/news/2013-01-nec-quarterly-net-profit.html
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