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Hitachi books higher quarterly income

Japanese electronic equipment maker Hitachi Ltd. said its net income rose to ¥105.25 billion in the first fiscal quarter, up from ¥75.07 billion in the same prior-year quarter.

Diluted earnings came in at ¥21.78 per share for the quarter that ended June 30, up from ¥15.54 per share.

Revenues totaled ¥2.166 trillion, up from ¥2.089 trillion. In Japan, Hitachi posted revenues of ¥981.4 billion, up from ¥976.0 billion, while overseas revenues came in at ¥1.184 trillion, up from ¥1.113 trillion.

Gross profit rose to ¥579.50 billion from ¥558.77 billion, and adjusted operating income stood at ¥148.15 billion, up from ¥131.84 billion.

Hitachi still expects its full-year fiscal 2018 income to come in at ¥400 billion and revenues at ¥9.400 trillion.

As of July 26, US$1 was equivalent to ¥111.02.