Toshiba Posts Slight Profit Rise

 

Toshiba Corp , the world’s No.2 maker of flash memory chips, posted a stable net profit of $6.0 million in the three months to June despite the negative impact of the March earthquake and tsunami.

The diversified electronics maker and marketer reported a ¥470 million ($6 million) net profit for the April to June quarter, compared with a profit of ¥466 million in the same period a year earlier.

Operating profit dropped 88% to ¥4.12 billion from ¥33.79 billion a year earlier, while revenue declined 8.6% to ¥1.326 trillion from ¥1.451 trillion.

The March 11 disaster damaged some of Toshiba’s production facilities and disrupted supplies of parts and raw materials.

Toshiba’s April-June operating profit would have been 25 billion yen higher, and its revenue 90 billion yen greater had it not been for the natural disaster, the company said.

For the full fiscal year ending in March, Toshiba kept its previously released forecast. It expects a 1.6% rise in net profit to ¥140 billion, a 25% rise in operating profit to ¥300 billion and a 9.4% rise in revenue to ¥7 trillion.

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