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Hitachi Reports Higher CE Profits In Fiscal Q3

2/04/2010 12:37:28 PM Eastern
Tokyo - Hitachi reported an increase in profits on slightly lower revenues and higher operating profits in its CE operation for its fiscal third quarter, ended Dec. 31.

Company-wide revenues were $23.5 billion, or 2.157 trillion yen, down 5 percent in yen for the quarter when compared with last year. Net income was $339 million, or 430.1 billion yen, up dramatically from the previous year's net income of 31.2 billion yen.

In its digital media and consumer products segment, revenue was down 15 percent to $2.85 billion but operating income was $46 million, or 20.3 billion yen, up from the prior year's 4.1 billion yen.

Hitachi said the segment continue to have strong sales in optical-disk-drive-related products but overall segment sales reflected the impact of the large reduction of overseas sales channels for flat-panel TVs as part of business structural reforms designed to lower operation risk.
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