Toshiba Forecasts $665.5M HD DVD Loss

By Steve Smith -- TWICE, 3/19/2008 8:11:00 AM

Tokyo — Toshiba is forecasting a $665.5 million operating loss in HD DVD business for fiscal year 2007, which will end March 31.

That is lower than some published reports from anonymous sources saying the loss from HD DVD alone would be close to $1 billion for the year, but higher than the previous forecast on Oct. 29, 2007, of a $511.9 million operating loss for HD DVD. The operating loss for the format during fiscal year 2006 was $348.1 million.

In other CE-related categories Toshiba is projecting an operating loss for LCD at $122.8 million for the 2007 fiscal year, up from the previous forecast of $81.9 million and almost double the actual loss for fiscal year 2006 of $66.6 million.

In digital products, operating income for fiscal year 2007 is $133.1 million, higher than the previous estimate of $102.4 million but lower than $161.8 million in 2006.

Corporately across all of its businesses Toshiba has issued a revised net income forecast of $1.28 billion for the fiscal year, down 30.6 percent from its Oct. 29, 2007 forecast of $1.84 billion. Its actual net income for the previous fiscal year was $1.41 billion.