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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Toshiba returns to black for December quarter AFP - Tuesday, February 1 Send IM Story Print Toshiba returns to black for December quarter TOKYO (AFP) - – Japan's Toshiba said Monday it swung back to a net profit for the December quarter from a year ago on strong demand for its memory chips used in smartphones and tablet computers. The electronics giant, whose business spans consumer electronics and nuclear power plants, revised upward its full-year earnings forecast on the back of its strong third-quarter results. Toshiba reported a net profit of 12.4 billion yen ($151 million) in the period, reversing a net loss of 10.6 billion yen a year earlier. The profit gain was largely due to "a significantly improved performance in electronic devices, driven mainly by the return to profit of the LCD business and demand expansion in NAND flash memories," it said in a statement. Toshiba is the world's second largest maker of flash memory chips used to store data in hot-selling smartphones, tablet devices and various other consumer electronics, after Samsung Electronics of South Korea. Operating profit saw 2.5-fold increase to 37.5 billion yen from 14.5 billion yen a year earlier. Sales edged up 1.6 percent to 1.6 trillion yen. Toshiba upgraded its net profit forecast for the year to March to 100 billion yen from its earlier estimate of 70 billion yen, while downgrading its sales forecast to 6.6 trillion yen from 7.0 trillion yen projected earlier. The firm left its operating-profit estimate unchanged at 250 billion yen. Operating profit in the company's semiconductor business jumped to 11.6 billion yen from 4.7 billion yen a year earlier. -- Dow Jones Newswires contributed to this article -- Recommend Send IM Story Print Related Articles Oracle to pay $46 mln to settle Sun case AFP - 34 minutes ago Digital revenue up, print down at Gannett AFP - 47 minutes ago Google topples Nokia from smartphones top spot Reuters - 2 hours 16 minutes ago US-TECH Summary Reuters - 2 hours 16 minutes ago Baidu options suggest possible breakout after earnings Reuters - 2 hours 37 minutes ago News Search Top Stories WTO delivers verdict on Airbus vs. Boeing Oil rockets to $101 per barrel on Egypt unrest Egypt protesters call for 'million-man march' Brain scan can tell if a smoker will quit Cyber raids threaten British, US stock markets: report More Top Stories » ADVERTISEMENT Most Popular Most Viewed WikiLeaks' Assange 'dressed as old woman' to evade CIA: book Brain scan can tell if a smoker will quit Egypt protesters call for 'million-man march' Oil rockets to $101 per barrel on Egypt unrest Nicotine study opens path for anti-smoking drug More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2011 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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