Thursday, July 28, 2005
Mitsubishi Electric reported net income of $98.8 million on sales of $6.6 billion in the first quarter ended June 30. Sales rose 2 percent over the year-ago quarter, but net earnings fell 10 percent.
Mitsubishi saw sales decline 7 percent in its Information and Communication Systems segment with an operating loss of $52 million. The company attributed the loss to a reduction in mobile handsets. Mitsubishi’s Electronic Devices segment saw sales of $358.1 million, up 3 percent from a year ago, with operating income of $23 million. The semiconductor business saw an increase in both orders and sales from a year ago.
For the second quarter ending September, Mitsubishi expects sales of $14.2 billion with earnings of $177.8 million, up 5 percent from a year ago.
By: DocMemory
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