The parade of financial results continues, two companies with fiscal years ending in March are reporting very different results. Fujitsu will easily beat profit forecasts, while chip maker Elpida Memory had a remarkably bad year.
Fujitsu’s estimated profit of 68 billion yen ($576 million) is a record for the company. It beats their own projection of 50 billion yen by 36% and is also comfortably above the average industry estimate of 58.6 billion yen. It is more than double last years profit of 31.9 billion yen. The success was spread across business lines for the company. Results were strong for sales of hard drives, phones, chips and electronic parts. The good times should keep on rolling, too, as company officials predict higher sales and profits this year.
For Elpida it was a year to forget. The world’s fifth largest maker of DRAM is estimating a net loss of between 4 billion and 4.4 billion yen ($34 to $37 million). They were hit with antitrust settlements and losses on inventory and fixed assets during the year. On the production side they were hurt by rapidly falling chip prices for phones and digital electronics, though they should come close to breaking even on their ongoing operations.