NEC Revises Financial Forecast on Strong Sales

NEC Corp. on Friday announced that better than anticipated sales of some key products will help it report first-half earnings above previous expectations.

The company, one of Japan's largest electronics makers, said strong domestic demand for its personal computers, cellular telephone handsets and memory and system LSI (large scale integrated circuit) chips would help it beat estimates announced in May.

The revised figures call for group net sales in the first half of the company's fiscal year 2001, the period to September 30, to hit 2,450 billion yen (US$23 billion) -- an increase of 100 billion yen on the previous figure.

As a result, both pretax and net income is expected to jump 10 billion yen and handily beat the losses reported by the company in the equivalent period a year earlier.

NEC Corp. Group Financial Forecast, all figures in billions of yen. (Source:

NEC Corp.)

H1 2001 Forecast (May) H1 2001 Forecast (New) Change on previous forecast H1 2000 ActualNet Sales 2,350 2,450 100 2,267.5Pretax Income (loss) 25 35 10 (58.4)Net Income (loss) 10 20 0 (48.8)NEC Corp. Parent Company Financial Forecast, all figures in billions of yen.

(Source: NEC Corp.)

H1 2001 Forecast (May) H1 2001 Forecast (New) Change on previous forecast H1 2000 ActualNet Sales 1,760 1,860 100 1,747.7Pretax Income (loss) 30 30 0 (19.3)Net Income (loss) 6 6 0 (1.2)NEC Corp., in Tokyo, can be found online at http://www.nec.co.jp/.

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