Toshiba Corp. Tuesday released a revised financial forecast showing a larger net loss of $210 million (25 billion yen) for the fiscal first half ended Sept. 30, 2003, compared with an original projected loss of $128 million.
The firm reported a net loss of $225 million in the first six months of the 2002 fiscal year. Toshiba blamed the wider loss on "worsening results in the Digital Products sector, although Electron Devices performed favorably."
Sales for the first six months of the fiscal year totaled $22.2 billion (2,600 billion yen), down slightly from the original projection of $22.5 billion.
The Japanese electronics giant said the estimate for net income remained unchanged at $340 million (40 billion yen) for the full fiscal year ending March 30, 2004. Sales for the fiscal year are also projected to remain the same as originally forecast at $48.7 billion.