Japanese electronics company Fujitsu reported a 62% decline in net profit for the quarter ended September 2007. The net profit decreased to $47m in the second quarter from $123.3m in the previous year due to the falling hard drive prices and higher taxes.
The company reported a year-on-year increase of 6.9% in total sales to reach $11.7 billion compared to $11 billion, while the operating income increased 13.6% to $356m compared to $313m for the same period last year. Earnings per share decreased to -$0.04 for the half year ended September 2007.
All reportable segments of the company showed year-on-year increase in revenues. The sale of technology solutions, ubiquitous product solutions and device solutions segments increased 5.8%, 8.8% and 6%, respectively. The revenues from other products segment recorded the highest increase of 10.2% compared to last year. The sales in Japan increased by 3.9%, while sales outside Japan rose 10.8%. The overseas revenues accounted for 37% of the company’s total revenues compared to 35% in the previous year.
Fujitsu’s competitor Toshiba also reported reduced profit for the quarter ended September 2007 due to the decline in hard drive prices. Its profit declined by 28% year-on-year, while the revenue increased 18.5% to $17.7 billion.
Source: ComputerWire daily updates