Mitsubishi Heavy 1H Grp Net Loss Y3.10B Vs Y29.03B Pft Yr Earlier

Mitsubishi Heavy Industries Ltd. (7011.TO)
Tokyo
1st Half Ended September 30
GROUP 2009 2008
Revenue Y1.32 tln Y1.57 tln
Operating Profit 25.11 bln 72.72 bln
Pretax Profit 2.65 bln 75.50 bln
Net Profit (3.10) bln 29.03 bln
Per share
Earnings (0.92) 8.65
Figures in parentheses are losses.
Results are based on Japanese accounting standards.




Mitsubishi Heavy Industries Ltd. also released the following forecasts:
GROUP Year Ending
Mar 2010
Revenue Y3.00 tln
Operating Profit 65.00 bln
Pretax Profit 20.00 bln
Net Profit 12.00 bln
Per share
Earnings 3.58
Results are based on Japanese accounting standards.






TOKYO (Dow Jones)--Mitsubishi Heavy Industries Ltd. (7011.TO) said Friday that it swung into the red in the first half as cautious corporate sentiment for increasing capital spending dented sales of its machinery products as the yen's appreciation reduced income from overseas markets.

The Tokyo-based heavy machinery maker posted a net loss of Y3.10 billion in the six months ended Sept. 30, a reversal from a net profit of Y29.03 billion in the same period a year earlier.

Sales fell 16% to Y1.322 trillion in the first half from Y1.575 trillion a year earlier.

For the current fiscal year through March, Mitsubishi Heavy left unchanged its forecast, projecting a net profit of Y12 billion on sales of Y3.000 trillion.

Mitsubishi Heavy reports its earnings under Japanese accounting standards.
http://online.wsj.com/article/BT-CO-20091030-700481.html