NEC Corporation announced earnings results for the third quarter and nine month ended December 31, 2014. For the quarter, the company reported sales were JPY 677.2 billion, operating income of JPY 14.1 billion, ordinary income of JPY 19.7 billion and net income of JPY 10.3 billion. Operating income declined compared to the previous fiscal year. As a result, ordinary income and net income remain flat from the previous fiscal year. Net income was JPY 10.3 billion, or JPY 3.97 per basic share, compared to JPY 11.1 billion, or JPY 4.26 per basic share, for the same quarter ended December 31, 2013.

For the nine months, the company announced it earned JPY 22.8 billion (USD 193 million) reversing a JPY 15.09 billion loss a year earlier. Operating profit jumped to JPY 35.6 billion from a profit of JPY 23.7 billion a year ago, after the firm cut away its money-losing smart phone unit, but total revenue fell 3.9% to JPY 2.0 trillion. Earnings per share were JPY 8.76 per basic share, compared to JPY 5.81 loss per basic share, for the same period ended December 31, 2013.

The company left its earnings forecast unchanged for the fiscal year ending March 31, 2015, predicting sales of JPY 3.0 trillion. There will be no change to the company forecast for operating income for the fiscal year ending March 31, 2015. Operating income is expected to improve by JPY 13.8 billion. Non-operating income is expected to improve by JPY 7.0 billion, due to decrease in provision for contingent loss. There was an impact from a decreasing gain on sale of subsidiaries and affiliates stocks, and all in all, expects to see an improvement in net income by JPY 1.3 billion to JPY 35.0 billion. The company anticipates an impact to lower the net profit by JPY 10.0 billion from changes in corporate tax. However, the company aims to attain more than the company forecast of JPY 35.0 billion in net income for this fiscal year. The company worked to achieve the full year forecast of operating income in JPY 120.0 billion and net income in JPY 35.0 billion.