Fujitsu Posts Profit On Strong Consumer Sales

Most of the company's lines posted stronger sales, but sales of servers declined over the prior quarter last year.

January 31, 2006

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MANHASSET, N.Y. — Japan-based Fujitsu Ltd. reported consolidated net sales of 1.1 trillion ¥ ($9.5 billion) for the third quarter of fiscal 2005, up 7.5 percent over the third quarter of fiscal 2004.

Third fiscal 2005 quarter consolidated operating income was 12.5 billion ¥ ($107 million), up 7.7 billion ¥ over the third fiscal 2004 quarter. Consolidated third-quarter net income was 3.3 billion ¥ ($29 million), up 12.9 billion ¥ over the net loss recorded the third fiscal 2004 quarter.

The company reported strong sales of mobile communications basestations and optical transmission systems, but declining sales of servers and other system products in Japan declined due to competition. Fujitsu also posted stronger sales of PCs, mobile phones, and hard disk drives.

Net sales in Fujitsu’s Device Solutions segment were 182.6 billion ¥ ($1.5 billion). Excluding the impact of the transfer of the company's flat panel display businesses, sales on a continuing operations basis increased 12.8 percent, driven by strong overseas sales growth. Quarterly sales of LSI devices increased year-over-year for the first time infive quarters, with operating income for the segment was 9.4 billion ¥ ($80million), up 9.1 billion ¥ from the year-ago fiscal quarter.

Overall, Fujitsu appeared to fare better in its quarter than Japanese rivals such as NEC and Sony, though the latter did better than expected.For the full fiscal 2005 year, Fujitsu continues to project net sales of 4.9 trillion ¥, operating Income of 175.0 billion ¥, and net income of 50.0 billion ¥.

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