Toshiba logs first operating loss in 7 years

Friday, 30 January 2009, 03:21 Hrs
Printer Print Email Email
Tokyo: Toshiba Thursday projected that the company will record a 280 billion yen ($3.11 billion) in net and operating loss in fiscal 2008 as flash memory prices were slumping and global economic situation worsening.

If that proves to be the case, the predicted loss will be the first since fiscal 2001.

In fiscal 2007, Toshiba logged a net profit of 127.41 billion yen and an operating profit of 238.10 billion yen ($2.64 billion).

Meanwhile, the company also lowered its sales outlook for fiscal 2008 to 6.7 trillion yen ($74.44 billion), down from the previously estimated 7.7 trillion yen ($85.56 billion).
Source: IANS
SPOTLIGHT
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..