NEC revealed its profits and losses for the first half of its fiscal year, which ends on March 31, 2011. The figures were not promising, with losses posted compared to what was a dismal year for many other companies in 2009.
The six-month period, ending September 30 of this year, brought in net sales of 1,469.2 billion Yen ($18.1 billion), a 11.2 percent drop from the 1,653.7 billion yen ($20.4 billion) it earned during the same period in 2009.
It had forecasted net sales of 1,500 billion yen ($18.5 billion) and blamed the reduced sales on poor performance in its Carrier Network and IT Services businesses.
It also posted an operating income of 1.1 billion Yen, which is significantly higher than the operating loss of 37.7 billion yen ($465 million) it experienced last year. However, this did not amount to much in terms of ordinary or net income, as it posted losses of 22.4 billion yen ($276 million) and 27 billion yen ($333 million) respectively.
The overall losses also affected shares, which were down 10.42 yen ($0.13) per basic share. That drop is less than the same period last year, however, when it lost 21.60 yen ($0.27) per basic share.
Motorola announced its third quarter figures for 2010, reporting the first growth quarter since the fourth quarter of 2006, which is most likely due to its success with Android smartphones.
It reported sales of $4.9 billion for the third quarter, a 13 percent increase from the same period last year. Total sales, including that of discontinued operations which came in at $871 million, amounted to $5.8 billion, a six percent increase on last year.
GAAP net earnings were at $109 million or $0.5 per share, compared to $12 million, or $0.1 per share, last year. Total cash amounted to $9 billion.
LG was not doing so well either, reporting monumental losses for the third quarter due to poor sales in both its smartphone and TV markets.
The company posted a massive 99.2 percent loss in net profits, reeling in only 7.57 billion won ($6.7 million), compared 911.32 billion won ($811 million) in 2009.
The company now has an operating loss of 185.2 billion won ($165 million) compared to an operating profit of 851 billion won ($757 million) in the third quarter of 2009. How quickly things change.
TSMC was doing far better, posting increases to revenue, net income, and diluted earnings per share.
The Taiwanese semiconductor company brought in consolidated revenue of NT$112.25 billion ($3.66 billion), a 24.8 percent increase on last year.
It also posted net income of NT$46.94 billion ($1.53 billion), a 53.6 percent increase on 2009. Diluted earnings per share were also up 54 percent to NT$1.81 ($0.06).
Softbank, the exclusive provider of the iPhone in Japan, raked in 57.4 billion yen ($708 million), a 32 percent increase on the same period last year.