Toshiba logs first operating loss in 7 years

Friday, 30 January 2009, 03:21 Hrs
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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
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