SAN JOSE, Calif. Hitachi Ltd.'s consolidated revenues were 4,413.3 billion yen ($39.1 billion) for the first half of fiscal 2005, up 2 percent year-on-year.
Net loss was $10.9 billion yen ($97 million) for the first half, compared with net income of 41.1 billion yen ($353.1 million) in the first half of fiscal 2004.
Sales in its electronic device unit declined 16 percent to 583.1 billion yen ($5.2 billion). This was due to lackluster sales in the display business, according to Hitachi.
Operating income declined 69 percent to 9.2 billion yen ($82 million) due mainly to losses in the display business.
Hitachi in the first half of fiscal 2005 made Fujitsu Hitachi Plasma Display Limited (FHP) a consolidated subsidiary with the aim of further expanding the group's plasma display business.
Hardware revenues declined because of the sale of Hitachi Printing Solutions Ltd. to Ricoh Co. Ltd. and due to falling prices of servers and PCs as competition intensified. Hard disk drives and disk array subsystems posted higher sales.
For the year, Hitachi raised its forecast to 9,220 billion yen ($83.8 billion), up 2 percent from the previous year. It is expected to make a profit of 20 billion yen ($182 million), down 61 percent from last year.