Fujitsu Posts FQ3 Loss, Cuts Outlook

Fujitsu Ltd FJTSY swung to a net loss for the fiscal third quarter and cut its earnings target for the full fiscal year through March 31. Fujitsu posted a net loss of Y4.3 billion, versus a year-ago profit of Y16.55 billion. Its operating profit dipped 85% to Y3.1 billion from Y21.2 billion. However, its revenue dropped 1.5% to Y1.080 trillion versus Y1.096 trillion. Fujitsu now expects a net profit of Y35 billion, versus its earlier view of Y60 billion. It projects an operating profit of Y100 billion, versus Y135 billion and revenue of Y4.49 trillion, versus Y4.54 trillion. Fujitsu shares closed at $26.62 yesterday.