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Original Source: FD (FAIR DISCLOSURE) WIRE
TOSHIO NAKAJIMA, PRESIDENT & CEO, NEC ELECTRONICS CORP: Welcome to NEC Electronics' webcast. Slide two provides an overview of the points we will discuss today. First, we will present financial results for the fiscal year ended March 31, 2007. Sales and operating profit loss were inline with the forecasts we announced on February 22. Second, we will present the forecast for the current fiscal year. We will reduce fixed costs by JPY20.0b as promised on February 22, and achieve operating profits. Third, we will explain progress being made on the new management policies.
Let me begin with the summary of financial results, shown on slide four. Semiconductor sales were JPY659.7b, a JPY40.6b increase from the previous fiscal year. Operating loss was JPY28.6b, a JPaY7.1b improvement from the previous year. Net loss was JPY41.5b.
Next we will explain fourth-quarter results. Slide six shows trends in quarterly sales. In the fourth quarter, a decline in semiconductor sales and costs associated with structural reforms led to a larger operating loss.
The next slide shows a year-on-year comparison of fourth-quarter sales according to platform. Although sales of MCUs grew, adjustments for LCD driver ICs led to a 1% overall decline year-on-year.
Slide eight shows a quarter-on-quarter comparison of fourth-quarter sales. Aside from relatively strong sales of MCUs, most other products experienced either seasonal adjustments or inventory adjustments, leading to a 6% decline quarter-on-quarter.
The next slide shows fourth-quarter sales by application. Fourth-quarter sales for Computing and Peripherals showed large declines both year-on-year and quarter-on-quarter.
Slide 10 shows the operating loss for the fourth …