Toshiba FQ4 Net Profit Down 63%

Toshiba Corp TOSYY reported a 63% y/y drop in its net profit for the fiscal fourth quarter. Toshiba's quarterly net profit declined to Y61.63 billion, versus Y97.66 billion, in the year-ago period. Its operating profit surged 18% to Y115.87 billion from Y98.00 billion, while revenue gained 1% to Y1.746 trillion from Y1.729 trillion. For the current full fiscal year ending March 2013, Toshiba projects a net profit of Y135 billion, operating profit of Y300 billion with sales of Y6.40 trillion. Toshiba shares closed at $23.65 yesterday