Hitachi Posts Higher Sales, Loss

By Steve Smith On Feb 12 2007 - 8:00am




Hitachi reported a 77 percent drop in net income to $11 million while revenues rose 10 percent to $20.9 billion for its fiscal third quarter, ended Dec. 31, 2006.

In its digital media and consumer products segment, it reported 3 percent higher revenues to $3.12 billion despite lower sales of plasma TVs and DVD recorders due to falling prices. The overall increase in revenues are reflected in the effect of merging Hitachi air conditioning systems and its home and life solutions operations in April of last year, and the growth of home appliance sales, the company said.

However the segment reported a $160 million operating loss due to wider losses in flat-panel TVs, DVD recorders and other products.

For the nine months, ended Dec. 31,2006, digital media and consumer products had $9.5 billion in sales, a gain of 16 percent, with an operating loss of $450 million.

Hitachi also reported that during the third quarter, volume production of plasma display panels was started at a third plant operated by Fujitsu Hitachi Plasma Display (FHP), which helped to reduce panel production costs. The company also noted that it made Clarion a subsidiary after conducting a tender offer for the company's shares, with the aim of bolstering its car information systems business.

Alert to All Users of the Disqus commenting system:

Because of a recent global security issue, the Disqus website recommends that all users change their Disqus passwords. Heres a URL about the issue:

http://engineering.disqus.com/2014/04/10/heartbleed.html

 

 

 

 

Connect

 

PHOTOS

Enjoy the greatest pictures taken from famous shows and events this year.

Current Issue

Webcast

This TWICE webinar,  hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.