Fujitsu Ltd.'s net income for the fiscal 2009 second quarter jumped to $804 million from $47 million, boosted by a huge increase from gains on the sale of investment securities, which helped to offset the negative impact of a 10 percent decline in sales from the year-ago comparable quarter.
The company's operating income fell 42 percent to $210 million in the September quarter from $364 million in the 2008 fiscal second quarter while sales dropped to $12.7 billion from $14.2 billion though revenue increased about 9 percent from the June quarter, beating company estimates, according to Fujitsu executives.
The company lowered its fiscal 2009 revenue projection slightly to approximately $53 billion from $53.6 billion, citing "lower demand for PCs and IT services in markets outside Japan," but added that "projections for operating income and net income remain unchanged."
Fujitsu recorded lower sales in Japan and other regional markets during the recently ended quarter with the decline affecting the company's main operating segments although sales improved strongly from the immediately preceding quarter in all regions.
Sales in the technology solutions division decreased 9 percent in the fiscal second quarter to $8.4 billion with demand from Japanese customers dropping 14 percent while overseas sales fell 6 percent in the segment. Operating income for the technology solutions unit was $418 million reversing a loss of $170 million from the prior quarter.
Fujitsu said its devices solution division reported sales of $1.5 billion in the fiscal second quarter, dropping 23 percent from the year-ago comparable quarter but improving from the fiscal first quarter.