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Mitsubishi CE Segment Sales Dip 1%

Tokyo – Mitsubishi Electric reported that large projection televisions in the United States enjoyed growth during the company’s fiscal year, ending March 31.

Mitsubishi’s Home Appliances segment, which includes consumer electronics, saw sales decrease by 1 percent during the 12 months, compared to the previous year, down to $5.5 billion.

Operating income for the Home Appliances business, however, jumped 30 percent year over year, hitting $278.9 million.

Consolidated Mitsubishi sales for the 12 months dropped 12 percent, compared to the year-ago period, to $27.4 billion, while operating income reached $511.3 million and net income $585.7 million.

The company expects consolidated sales in the fiscal year, ending March 31, 2003, to increase 1 percent, to $27.8 billion. It anticipates operating income of $488.7 million and net income of $188 million for the 12 months.