NEC Corporation (NIPNF,6701.T), a Japanese IT company, on Wednesday reported a surge in net profit for the first half, helped by improved revenue. In addition, the company has revised up its annual guidance.
For the six-month period to September 30, the company posted a net income of JPY 72.830 billion, or JPY 54.65 per share, higher than JPY 13.460 billion, or JPY 10.10 per share, in the same period last year.
Excluding items, profit stood at JPY 78.562 billion, or JPY 58.95 per share, compared with JPY 37.439 billion, or JPY 28.10 per share, in the previous year.
Operating income surged to JPY 118.570 billion from the prior year's JPY 44.693 billion. Revenue was JPY 1.569 trillion, up from JPY 1.486 trillion a year ago.
Looking ahead, for the full year, the company now expects adjusted profit of JPY 245 billion, up 8.6% from last year. Excluding items, income per share is now anticipated to be at JPY 183.78.
NEC Corporation now projects annual revenue of JPY 3.420 trillion, down 0.1% from last year.
Earlier, the company was expecting to report annual adjusted income of JPY 230 billion, or JPY 172.58 per share, on revenue of JPY 3.360 trillion.
For the full year, NEC Corporation still anticipates to pay a total dividend of JPY 32 per share, down from JPY 140 per share in the previous year.
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