SAN JOSE, Calif. Japan's Toshiba Corp. reported a profit of 1.6 billion yen ($15.1 million) for the quarter, compared to a loss of 9.2 billion yen ($88.8 million) in the same period a year ago.
Sales were 1.37 trillion yen ($13.2 billion), up 3 percent from the like period a year ago.
According to the Associated Press, Toshiba cut its profit forecast for the fiscal year ending March 31, 2005 to 45 billion yen ($435 million), down from its earlier forecast of 50 billion yen ($483 million).
The company also lowered its sales outlook to 5.86 trillion yen ($56.6 billion) for the year, compared to 5.87 trillion yen ($56.7 billion), according to the report. It blamed the new forecast on falling prices for semiconductors, DVD recorders and other products.