TOKYO (dpa-AFX) - Japan's Hitachi Ltd. (HTHIF.PK, HTHIY.PK) reported Thursday that its first-quarter net income attributable to stockholders surged to 223.2 billion Japanese yen from 120.3 billion yen in the year-ago period. Earnings per share rose to 230.86 yen from 124.42 yen last year.
EBIT for the quarter grew to 340.4 billion yen from 182.5 billion yen in the year-ago period.
However, revenue for the quarter declined to 1.59 trillion yen, or $14.76 billion, from 2.03 trillion yen in the prior-year period.
For fiscal 2020, Hitachi now projects net income of 335.0 billion yen, EBIT of 614.0 billion yen and revenues of 7.88 trillion yen. Earlier, the company projected revenue of 7.08 trillion yen.
Copyright RTT News/dpa-AFX