euro adhoc: Fujitsu Limited
Quarterly or Semiannual Financial
Statements
Fujitsu Reports FY2003 First-Half Financial Results
for first-half fiscal period, ended September 30, 2003 - Part 1 (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Part 1
Contact:
Yuri Momomoto or Scott Ikeda FOR IMMEDIATE RELEASE
Fujitsu Limited, Public and Investor Relations Oct. 29, 2003 Tel (+81-3)6252-2176
Fujitsu Reports FY2003 First-Half Financial Results (for first-half fiscal period, ended September 30, 2003)
1. Summary of Consolidated Results (Six months ended September 30) a. Summary of Consolidated Statements of Operations
Yen U.S. Dollars (millions) (millions) (except per share data) (except per share data)
1st Half 1st Half 1st Half 2003 2002 Change 2003 (%) Net Sales Y 2,141,934 Y 2,150,386 -0.4 $19,297
Operating (17,990) (23,278) - (162) Income (Loss)
Income (Loss) Before Income Taxes and Minority Interests (51,082) (220,101) - (460)
Net Income (58,562) (147,438) - (528) (Loss)
Net Income (Loss) per common share Y (29.28) Y (73.66) - Y(0.264)
b. Net Sales by Business Segment
Yen U.S. Dollars (millions) (millions) (except per share (except per share data) data)
1st Half 1st Half 1st Half 2003 2002 Change 2003 (%) Software & Y 909,325 Y 918,089 -1.0 $8,192 Services
Platforms 723,821 769,713 -6.0 6,521
Electronic 334,746 289,037 +15.8 3,016 Devices
Financing 50,391 55,074 -8.5 454
Other 123,651 118,473 +4.4 1,114 Operations
Total Y 2,141,934 Y 2,150,386 -0.4 $19,297
c. Summary of Consolidated Financial Condition
Yen U.S. Dollars (millions) (millions) September March 31 September 30 30 2003 2003 2003 Total Assets Y3,740,469 Y 4,225,361 $ 33,698
Shareholders' 649,866 702,390 5,855 Equity
Shareholders' 17.4 % 16.6% Equity Ratio
d. Summary of Consolidated Statements of Cash Flows
Yen U.S. Dollars (millions) (millions) 1st Half 1st Half 1st Half 2003 2002 2003 Cash Flows Y 37,424 Y (80,996) $ 337 from Operating Activities
Cash Flows (30,352) (10,551) (273) from Investing Activities
Cash Flows (50,637) 111,582 (456) from Financing Activities
Cash and Cash Equivalents at Half-year Y 236,658 Y 316,370 $ 2,132 End
Note: All yen figures have been converted to U.S. dollars for convenience only at a uniform rate of $1=111 yen.
2. Summary of Consolidated Results (Three months ended September 30)
a. Summary of Consolidated Statements of Operations
Yen U.S. Dollars (millions) (millions) (except per share data) (except per share data) 2nd 2nd 2nd Quarter Quarter Quarter 2003 2002 Change 2003 (%) Net Sales Y1,203,196 Y1,167,392 +3.1 $10,840
Operating 19,896 5,792 +243.5 179 Income (Loss)
Income (Loss) Before Income Taxes and Minority Interests (18,229) (142,994) - (164)
Net Y (18,754) Y (91,010) - $ (169) Income (Loss)
b. Net Sales by Business Segment
Yen U.S. Dollars (millions) (millions) (except per share (except per data) share data) 2nd 2nd 2nd Quarter Quarter Quarter 2003 2002 Change 2003 (%) Software & Y 525,979 Y 537,102 -2.1 $4,738 Services
Platforms 411,572 390,622 +5.4 3,708
Electronic 172,100 147,047 +17.0 1,551 Devices
Financing 29,596 30,306 -2.3 267
Other 63,949 62,315 +2.6 576 Operations
Total Y 1,203,196 Y 1,167,392 +3.1 $10,840
3. Projections for FY2003 (April 1, 2003 - March 31, 2004)
Consolidated Earnings Forecast
Yen (billions) Change (%) FY2003 (Forecast) FY02 to FY03 Net Sales Y 4,750.0 +2.9 Operating Income 150.0 +49.4 Net Income (Loss) Y 30.0 -
Note: All yen figures have been converted to U.S. dollars for convenience only at a uniform rate of $1=111 yen.
4. Summary of Unconsolidated Results (Six months ended September 30)
a. Summary of Unconsolidated Statements of Operations
Yen U.S. Dollars (millions) (millions) (except per share (except data) per share data) 1st Half 1st Half 1st Half FY2003 FY2002 Change FY2003 (%) Net Sales Y1,207,551 Y1,238,409 -2.5 $10,879
Operating (44,021) (23,888) - (397) Income (Loss)
Income (Loss) 17,346 (183,136) - 156 Before Income Taxes
Net Income 18,708 (104,936) - 169 (Loss)
Amounts Per Share of Common Stock:
Net Income Y 9.35 Y (52.42) $0.084 (Loss)
Cash Dividends Y 0.00 Y 0.00 $0.000
b. Summary of Unconsolidated Financial Condition
Yen U.S. Dollars (millions) (millions) (except per share data) (except per share data) September March 31 September 30 30 2003 2003 2003
Total Assets Y 2,820,007 Y 2,926,275 $25,405
Shareholders' 801,768 771,133 7,223 Equity
Shareholders' 28.4% 26.4% Equity Ratio
Shareholders' Y 400.81 Y 385.49 $3.61 Equity Per Share
5. Projections for FY2003 (April 1, 2003 - March 31, 2004)
Unconsolidated Earnings Forecast
Yen Change (billions) FY02 to FY03 (except per share (%) data) Net Sales Y 2,730.0 +1.3 Operating Income 40.0 +83.0 Net Income 50.0 - Net Income per Share 25.00 -
Note: All yen figures have been converted to U.S. dollars for convenience only at a uniform rate of $1=111 yen.
Consolidated Statements of Operations (Three months ended September 30) Yen U.S. Dollars (millions) (millions) 2nd 2nd 2nd Quarter Quarter Quarter 2003 2002 Change 2003 (%) Net sales Y 1,203,196 Y 1,167,392 +3.1 $10,840
Operating costs and expenses:
Cost of goods 886,893 852,117 +4.1 7,990 sold
Selling, general and administrative 296,407 309,483 -4.2 2,671 expenses 1,183,300 1,161,600 10,661
Operating 19,896 5,792 +243.5 179 income (loss)
Other income (expenses):
Net interest* (4,636) (6,465) (42)
Equity in earnings of affiliated companies, net (1,442) 1,432 (13)
Amortization of unrecognized obligation for retirement benefits (14,492) (10,924) (131)
Restructuring (4,674) (124,101) (42) charges
Cost of - (25,000) - corrective measures for products**
Valuation - (7,637) - loss on marketable securities
Gain on sales 7,496 27,980 68 of marketable securities***
Other, net (20,377) (4,071) (183)
(38,125) (148,786) (343)
Income (Loss) before income taxes and minority interests (18,229) (142,994) - (164)
Income taxes (3,374) (53,522) (30)
Minority (3,899) (1,538) (35) interests
Net income Y (18,754) Y (91,010) - ($169) (loss)
Note: All yen figures throughout these statements have been converted to U.S. dollars for convenience only at a uniform rate of $1=111 yen.
*Net interest consists of interest income, dividend income and interest charges.
**Cost of corrective measures for products refers to certain small form factor hard disk drives.
***Gain on sales of marketable securities in second quarter of FY2003 refers to 1,319 million yen of gain on sales of affiliates' stock and 6,177 million yen on sales of available-for-sale securities.
This information is provided by RNS The company news service from the London Stock Exchange
MORE TO FOLLOW
end of announcement euro adhoc 30.10.2003
Further inquiry note:
Yuri Momomoto or Scott Ikeda
Fujitsu Limited, Public and Investor Relations
Tel (+81-3)6252-2176
FAX:+81 (0) 3-6252-2783
URL:http://pr.fujitsu.com/en/news/fjcontacts.html
E-mail:pr@fujitsu.com
Branche: Hardware
ISIN: JP3818000006
WKN: 0354912
Index:
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