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Hitachi Revises 1st Half Forecast

Tokyo – Hitachi’s operating income in the Digital Media & Consumer Products segment for the first half of fiscal 2002, ending Sept. 30, 2002, is expected to be hit by sluggish sales of mobile phones and room air conditioners.

Hitachi in its overall revised, consolidated forecast for the first six months said its net sales expectations should remain the same at $32.2 billion, compared with $32.9 billion in the year ago period. However, operating income now is expected to come in at $434.4 million, down from the $584.8 million forecast in late April, but ahead of the $351.8 million operating loss reported a year ago.

The company predicted break-even for the period, down from the $41.8 million forecast in April, but better than the $923.5 million net loss reported in the same period in 2001.