Fujitsu Revises Earnings Projections for First Half of Fiscal 2007.Tokyo Tokyo (tō`kēō), city (1990 pop. 8,163,573), capital of Japan and of Tokyo prefecture, E central Honshu, at the head of Tokyo Bay. , Japan, Oct 22, 2007 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - Fujitsu (company) Fujitsu - A Japanese elecronics corporation. Fujitsu owns ICL, Amdahl Corporation, and DMR. Home USA, Japan. Limited today announced that it has revised upward its earnings projections for the first half of fiscal 2007 ended September September: see month. 30, 2007 for both consolidated and unconsolidated results. There are no revisions to the full-year earnings projections for fiscal 2007 ending March 31, 2008, on either a consolidated or unconsolidated basis. 1. Revised Earnings Projections for the First Half of FY 2007 (April 1 - September 30, 2007)
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Consolidated Projection (Billions of yen)
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Net Operating Net
Sales Income Income
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Previous Projection (A) 2,450.0 20.0 (20.0)
Current Projection (B) 2,513.0 44.0 (10.0)
Change (B-A) 63.0 24.0 10.0
Percentage Change 2.6% 120.0% --
FY 2006 First Half
Results 2,362.3 50.6 14.8
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Unconsolidated Projection (Billions of yen)
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Previous Projection* (A) 1,350.0 20.0
Current Projection (B) 1,400.0 30.0
Change (B-A) 50.0 10.0
Percentage Change 3.7% 50.0%
FY 2006 First Half
Results 1,329.4 12.8
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Reasons for Revision For the first half of fiscal 2007, we are now projecting consolidated operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. of 44.0 billion yen, an upward revision of 24.0 billion yen over our previous projection made on July July: see month. 26, 2007. The improvement reflects growth in our services business as well as in PCs and mobile phones, along with advance demand for server-related products. Cost-cutting initiatives also boosted income. As a result of higher projections for operating income, the outlook for net income is also revised upward. Full-year earnings projections for fiscal 2007 remain unchanged, primarily because of uncertainties relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc our product businesses, for which sales and income tend to be highly concentrated at the end of the fiscal year. In addition, we have not changed our view of full-year demand and earnings for such areas as logic LSI LSI: see integrated circuit. (Large Scale Integration) Between 3,000 and 100,000 transistors on a chip. See SSI, MSI, VLSI and ULSI. devices and hard disk drives. (Reference) FY 2007 First-Half Consolidated Operating Income (Loss) by Segment: Projections and Comparison with Results of Same Period in Previous Year
(Billions of Yen)
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First Half
FY 2007 Change vs.
Projections FY 2006 Results
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Technology Solutions 39.0 2.5
- System Platforms (9.0) (3.8)
- Services 48.0 6.3
Ubiquitous Product Solutions 22.0 2.0
Device Solutions 6.0 (10.0)
Other Operations 6.0 1.0
Eliminations (29.0) (2.2)
Total 44.0 (6.6)
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2. Announcement Schedule for FY 2007 First-Half Results As announced on July 26, 2007, in accordance Accordance is Bible Study Software for Macintosh developed by OakTree Software, Inc.[] As well as a standalone program, it is the base software packaged by Zondervan in their Bible Study suites for Macintosh. with the Japanese Corporate Law, Fujitsu will proceed with a special accounts settlement for the fiscal 2007 first-half period, and plans to use retained earnings Retained Earnings The percentage of net earnings not paid out in dividends, but retained by the company to be reinvested in its core business or to pay debt. It is recorded under shareholders equity on the balance sheet. from net income posted for the first half to pay an interim dividend(*). For the first half of fiscal 2007, in addition to the audit required by the Japanese Financial Instruments and Exchange Law, Fujitsu must also comply with audit procedures for a special accounts settlement required by the Japanese Corporate Law. The announcement of first-half results for fiscal 2007 is scheduled for November 22, 2007. The interim dividend is expected to be paid in the latter part of December 2007, after the completion of all audit procedures for the special accounts settlement. In addition, the Half-yearly Report will be made public in late December. * On an unconsolidated basis, Fujitsu Limited had a negative balance of retained earnings for fiscal 2006 ended March 31, 2007. A decision was made at a meeting of the Board of Directors in May 2007 to transfer 240.4 billion yen from "other capital surplus" into "other retained earnings", making the balance of retained earnings zero. In order to pay interim dividends out of retained earnings resulting from net income posted for the first half of fiscal 2007, Fujitsu is preparing a special accounts settlement reports using, in accordance with the Japanese Corporate Law, the last day of the first-half period, September 30, 2007, as the special accounts settlement date. Note: These materials may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results may differ materially from those projected or implied in the forward-looking statements due to, without limitation, the following factors: - General economic and market conditions in key markets (particularly in Japan, North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe, and Asia, including China) - Rapid changes in the high-technology market (particularly semiconductors, PCs, mobile phones, etc.) - Fluctuations in exchange rates or interest rates - Fluctuations in capital markets - Intensifying in·ten·si·fy v. in·ten·si·fied, in·ten·si·fy·ing, in·ten·si·fies v.tr. 1. To make intense or more intense: price competition - Changes in market positioning due to competition in R&D - Changes in the environment for the procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. of parts and components - Changes in competitive relationships relating to collaborations, alliances and technical provisions - Potential emergence of unprofitable projects - Changes in accounting policies About Fujitsu Ltd Fujitsu Limited (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : 6702; ADR ADR - Astra Digital Radio : FJTSY) is a leading provider of customer-focused IT and communications solutions for the global marketplace. Pace-setting device technologies, highly reliable computing computing - computer and communications products, and a worldwide corps of systems and services experts uniquely position Fujitsu to deliver comprehensive solutions that open up infinite possibilities for its customers' success. Headquartered in Tokyo, Fujitsu reported consolidated revenues of 5.1 trillion One thousand times one billion, which is 1, followed by 12 zeros, or 10 to the 12th power. See space/time. (mathematics) trillion - In Britain, France, and Germany, 10^18 or a million cubed. In the USA and Canada, 10^12. yen (US$43.2 billion) for the fiscal year ended March 31, 2007. For more information, please visit www.fujitsu.com. Source: Fujitsu Ltd Contact: Fujitsu Limited Public & Investor Relations https://www-s.fujitsu.com/global/news/contacts/inquiries/index.html Japan Corporate News Network. All rights reserved. |
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