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NEC 9-month Profit Falls; Affirms FY Outlook - Quick Facts

NEC Corp. (NIPNF.PK), a Japanese provider of IT and network technologies, reported that its net profit attributable to owners of the parent for the nine months ended December 31, 2018 was 7.65 billion yen, down sharply from 17.58 billion yen in the year-ago period, primarily due to worsened income before income taxes. On a per share basis, earnings fell to 29.46 yen from 67.66 yen a year ago.

However, operating profit improved to 16.69 billion yen from 14.27 billion yen a year ago, mainly due to an increase in revenue despite business structure improvement expenses recorded for the implementation of voluntary early retirement.

Consolidated revenue for the nine months was 2.04 trillion yen, an increase of 63.4 billion yen or 3.2 percent from 1.97 trillion yen last year. This increase was mainly due to increased sales in the Enterprise business and the Public business.

Looking ahead, NEC said there is no change to the consolidated financial forecasts for the full fiscal year ending March 31, 2019, as previously disclosed on October 30, 2018.

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