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Hitachi CE Segment Revenue Jumps 10%

10/29/2004 09:03:00 AM Eastern

Tokyo — The CE digital media and consumer products segment at Hitachi increased its revenue by 10 percent in the company’s fiscal first half, reaching $6.1 billion, compared with $5.5 billion in the year-ago period.

Hitachi attributed the rise in sales to growth of plasma TVs and LCD projectors, and healthy sales of its major appliances lineup.

Operating income for the company’s CE segment reached $99.8 million in the first six months, ended Sept. 30, compared with $6.9 million in the same time frame a year earlier. The income improvement reflected better profitability in home appliances and growth in projection TVs and LCD projectors, among other factors.

Hitachi’s overseas revenue in the first half rose 15 percent, hitting $15.3 billion, with North America accounting for $4.2 billion of the total. The increase overseas was due in part to rising demand for digital CE products and growth in sales of electronic components and materials for electronics-related products.

With the world economy remaining strong, supported by such factors as rising worldwide demand for digital CE products, Hitachi raised its consolidated first half revenue by 7 percent, hitting $40.8 billion, up from a year-on-year $38 billion. Consolidated net income for the first half soared to $386.9 million, compared with $50.7 million in the same period a year earlier.

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