Toshiba revises down full-year operating profit forecast after quake

Reuters News
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Posted: Apr 18, 2011 11:29 PM
Toshiba revises down full-year operating profit forecast after quake

TOKYO (Reuters) - Toshiba Corp said it likely fell short of its operating profit forecast for the past business year by 4 percent, citing the effects of the March 11 quake and tsunami, which affected operations at some of its plants.

Toshiba said it now expected to post an operating profit of 240 billion yen ($2.9 billion) for the year ended last month, 10 billion yen short of its prior forecast.

But the company revised up its net profit forecast to 135 billion yen from 100 billion yen. A spokesman said restructuring costs had been lower than expected and that the company had sold off some real estate.

(Reporting by Isabel Reynolds; Editing by Nathan Layne)