NEC returned to black in first half

Kyodo

NEC Corp. said Friday it returned to the black in the April-September period, thanks to better performance in its information technology services and restructuring efforts.

For the first half of the business year, it posted a group net profit of ¥8 billion compared with a net loss of ¥10.98 billion a year earlier, it said.

Its consolidated operating profit surged to ¥47.37 billion, up from ¥6.79 billion, on sales of ¥1.45 trillion, up 0.3 percent.

NEC kept intact its earnings forecast for the full year. It expects to swing into the black with a group net profit of ¥20 billion against the previous year’s loss of ¥110.3 billion. Group sales are anticipated to increase 3.7 percent to ¥3.15 trillion.