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Hitachi FY18 Profit Down; Sees Higher Earnings, Lower Revenues In FY19

Japan's Hitachi Ltd. (HTHIF.PK,HTHIY.PK) reported Friday that its net income attributable to stockholders for fiscal 2018, ended March 31, 2019, declined to 222.5 billion yen or $2.01 billion from last year's 362.9 billion yen.

Earnings per share were 230.25 yen or $2.07, down from 375.60 yen last year.

Earnings before interest and taxes fell to 513.9 billion yen or $4.63 billion from prior year's 644.2 billion yen. Adjusted operating income was 754.9 billion yen or $6.80 billion, up 6 percent from 714.6 billion yen last year.

Revenues grew 1 percent to 9.48 trillion yen or $85.41 billion from last year's 9.37 trillion yen.

Looking ahead, for fiscal 2019, the company projects attributable net income of 435 billion yen or $3.92 billion, EBIT of 750 billion yen or $6.76 billion, adjusted operating income of 765 billion yen or $6.89 billion, and revenues of 9 trillion yen or $81.08 billion.

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