Toshiba 2010/11 net likely to beat forecast: Nikkei

Share this
inShare
Digg
Email
Print
Related News
Stocks fall after S&P warning and bonds recover
5:26pm EDT
Citi profit sags as revenue shrinks, expenses grow
4:39pm EDT
Strong U.S. helps Halliburton overcome Libya impact
3:02pm EDT
Synthes confirms in deal talks with J&J
1:49pm EDT
Philips CEO turns off TV in search of profit
1:18pm EDT
Analysis & Opinion
China’s hot Facebook clone will cool down
Common budget mistakes for tech startups
Related Topics
Technology »
Stocks

Toshiba Corp
6502.T
¥400
-1.00-0.25%
8:44am GMT+0700
TOKYO | Mon Apr 18, 2011 8:56pm EDT
(Reuters) - Toshiba Corp is likely to post a forecast-beating 130 billion yen ($1.6 billion ) net profit for the 2010/11 business year that ended on March 31, boosted by robust sales of flash memory chips for smartphones and tablet PCs, the Nikkei business daily reported.

Toshiba has estimated a 100 billion yen profit for the latest business year, while a poll of 19 analysts by Thomson Reuters I/B/E/S on average estimated a profit of 96.75 billion yen.

Toshiba spokesman Keisuke Ohmori said the company had not changed its forecast issued in January but will make an announcement if a revision is required.

Toshiba Chief Executive Norio Sasaki said earlier this month that net profit could exceed previous guidance.

The latest business year will mark Toshiba's first year in the black on a net basis in three years. It posted a 19.7 billion yen net loss in the previous year.

Sales were probably 6.4 trillion yen in 2010/11, up slightly from the prior year but below Toshiba's forecast of 6.6 trillion yen, due to damage at its factory in Iwate prefecture from the March 11 earthquake, the Nikkei said.

(Reporting by Junko Fujita; Editing by Edmund Klamann)