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But Toshiba incurred a group net loss of 57.71 billion yen for the six-month period, larger than a year-earlier loss of 38.45 billion yen, on sales of 2.96 trillion yen, down 15.4 percent, in the face of the economic slump and a stronger yen, the company said.
The company said the group operating profit was its first in three half-year periods.
Its semiconductor operations returned to profitability at the operating level in the first half thanks to increased sales of NAND-type flash memory chips.
During the July-September quarter, the Tokyo-based firm said its semiconductor operations secured an operating profit of 5.2 billion, a reversal from a year-earlier loss of 29.3 billion yen. It was the first quarterly operating profit since the fourth quarter of fiscal 2007 when it recorded a profit of 7.1 billion yen.
The company's social infrastructure division including nuclear power systems also improved its performance in the July-September quarter, with its operating profit at 32.8 billion yen against 19.5 billion yen a year earlier.
For the whole of fiscal 2009 through next March, the electronics giant left its earnings outlook unchanged, predicting a group net loss of 50 billion yen and an operating profit of 100 billion yen on expected sales of 6.8 trillion yen.
Fumio Muraoka, corporate senior executive vice president of Toshiba, said while the company's cost-cutting measures were paying off, the earnings outlook for the latter half of the current business year remains "severe." There were macroeconomic improvements in the first half due to government economic stimulus measures, Muraoka said, citing upbeat macroeconomic data including U.S. economic growth in the July-September quarter.
But he added, whether such positive developments will continue is still "uncertain," given the global market slump, employment woes and the stronger yen.
To see more of Kyodo News International, go to http://www.kyodonews.com Copyright (c) 2009, Kyodo News International, Tokyo Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
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