Toshiba returns to profit in first half, upgrades forecast
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Japanese giant electronics maker Toshiba said it returned to the black with a 8.4 billion yen (79 million dollars) net profit in the first half and upgraded its full-year forecast despite global uncertainty.
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By JOSEPH COLEMAN  TOKYO - Japan's beleaguered Mitsubishi Motors Corp. reported its first quarterly profit since 2004 as the weaker yen lifted earnings in the October-December period.
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T-Online, Deutsche Telekom's majority owned Internet service provider, said it was lifting its forecast for full-year core earnings after reporting better-than-expected results.
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Toshiba Corp. plans to begin commercial production of its 0.85-inch hard disk drive before the end of this year, the company said on Tuesday.
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Japanese electronics group Toshiba Corp  posted a 38 percent rise in quarterly operating profit on Monday, thanks to sales of its flash memory chips and thermal power plants, and it raised its full-year outlook closer to market estimates.
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German semi-conductor giant Infineon posted its first annual profit in three years, but issued a downbeat outlook for the months to come.
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TOKYO -- A recovery in electronics sales offset losses in video games and helped boost Sony's profit for the July-to-September quarter more than 40-fold over the same period a year ago.
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The office equipment maker cited cost controls and growth in equipment financing and services, though its outlook for the first quarter was partly below Wall Street expectations.
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Microsoft Corp.  eked out a gain in quarterly net profit despite a $1 billion charge to pay for repairs to its Xbox 360 game consoles, and the company slightly raised full-year earnings and revenue forecasts.
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SunTrust Banks Inc. (STI.N: Quote, Profile, Research) on Monday said it expects to restate first-half profit higher to fix how it accounted for loan losses, and the No.
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Nintendo, the world's largest maker of portable game consoles, said it returned to profitability in the first half after booking large foreign exchange gains.
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The company said quarterly net profit jumped to 73.7 billion yen, or $646.7 million, as sales of digital cameras, televisions and other electronics more than offset losses at its video-games unit.
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Mitsubishi Electric Corp.  on Monday posted a better-than-expected 38 percent rise in first-half operating profit, helped by strong sales of factory equipment and power systems to emerging markets, and it raised its full-year outlook by 17 percent.
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Business software maker Novell Inc.   posted a preliminary quarterly profit on Tuesday,  bouncing back from a year-earlier loss when it took a $38  million restructuring charge.
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Two Japanese electronics makers reported improved fiscal first-half earnings Friday, with profits at Hitachi Ltd. surging nearly eight-fold, while Toshiba Corp. rebounded to profitability from a loss the previous year.
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EMC Corp , the No. 1 maker of  corporate data storage equipment, reported higher quarterly  profit on Thursday on an increase in sales of both hardware and  software.
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Hewlett-Packard reported solid financial results for its fiscal first quarter, driven by growth in PCs and enterprise hardware. The results prompted HP to raise its forecast for the year ahead.Revenue for the quarter, which ended Jan. 31, was $28.5 billion, up 13 percent from a year earlier, HP announced Tuesday. Pro forma net income was $2.3 billion, or $0.86 per share, up from $1.8 billion, or $0.65 per share, a year earlier.The figures beat the expectations of financial analysts, who had forecast revenue of $27.6 billion and pro forma earnings per share of $0.81, according to Thomson First Call. The pro forma figure excludes one-time items that slightly inflated the results. Using generally accepted accounting principles, HP&#39;s profit was $2.1 billion, or $0.80 per share.HP&#39;s Personal Systems Group, which produces its laptop and desktop PCs, grew its revenue 24 percent from the same period a year earlier, to $10.8 billion, with unit shipments up 27 percent. Notebook sales climbed fastest, up 37 percent, while desktop sales climbed 15 percent.The division had already been doing well. HP extended its lead over Dell in PC sales last year, according to figures from Gartner. HP ended the year with 18.2 percent of the market, compared with 14.3 percent for Dell. The PC market overall grew 13.4 percent.HP may find it hard to sustain that growth rate, in part because it has to make comparisons with increasingly successful quarters in the year before, CEO Mark Hurd said on a conference call. Still, Hurd said, &quot;when you look at 24 percent growth, I think that&#39;s pretty darned strong.&quot;HP&#39;s imaging and printing group performed slightly less well, with revenue climbing 4 percent to $7.3 billion. Printer unit sales declined by 1 percent from a year earlier, thanks to weakness in the consumer market. Revenue from supplies, which includes HP&#39;s profitable ink business, climbed 6 percent, however.Revenue from the servers and storage group climbed 9 percent to $4.8 billion. Sales of blades and industry-standard servers were strong, while HP&#39;s PA-RISC and Alpha chip businesses continued to shrink. Services revenue climbed 11 percent year-over-year to $4.4 billion, while software sales climbed 11 percent to $666 million, HP said.Hurd said he was pleased with the results overall. He attributed them to successful cost-cutting efforts, the addition of 2,000 new HP sales staff in the past year, and a diverse product portfolio.HP generates an increasing amount of its business overseas, he said. Its biggest market continued to be Europe, the Middle East and Africa, where revenue grew 15 percent to $12.3 billion. Asia-Pacific revenue climbed 22 percent to $4.9 billion. Growth in the Americas was a sluggish 8 percent, generating $11.2 billion.&quot;We generated 69 percent of our revenue outside the U.S., with emerging markets driving significant growth,&quot; Hurd said.The company now expects second-quarter revenue of $27.7 billion to $27.9 billion, and pro forma earnings per share of $0.83 or $0.84. That&#39;s above what analysts polled by Thomson had been estimating: pro forma profit of $0.82 and revenue of $27.4 billion.