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For the first six months of fiscal 2009 through next March, the Japanese information technology firm logged a smaller-than-expected operating loss of 18.25 billion yen, against a year-earlier profit of 38.54 billion yen, on sales of 2.19 trillion yen, down 10.9 percent.
Sales of personal computers and IT services remained sluggish, particularly in Europe, as companies cut back on corporate spending amid the global economic downturn.
But Fujitsu generated better-than-expected results for the July to September quarter as it carried out aggressive cost-cutting measures, completing the sale of its hard disk drive businesses to Toshiba Corp. earlier this month.
The company kept intact its full-year operating and net profit forecasts at 90 billion yen and 95 billion yen, respectively. But it slightly revised its sales outlook downward, now projecting 4.80 trillion yen against an earlier 4.82 trillion yen due to economic uncertainties in Europe.
Fujitsu booked a special loss of 21.1 billion yen on restructuring costs linked to the reassignment of about 2,000 employees at its struggling semiconductor unit in Japan.
It also logged in advance a 3 billion yen loss on restructuring of its European operations, which includes a planned reduction of up to 1,200 jobs in Britain.
The 24.1 billion yen loss was wiped out by the 89.5 billion yen in special gains from the sale of its entire stake in Fanuc, Fujitsu said.
While a major realignment is underway in Japan's struggling chip industry, Fujitsu Chief Financial Officer Kazuhiko Kato said the company has no plans to sell its large-scale system integrated circuit operations.
"We do not intend to be embroiled in the industry-wide realignment," Kato said at a press briefing in Tokyo. "We may seek to acquire to strengthen our engineering skills, but there is no debate about selling (our operations) at this stage."
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