Mitsubishi Electric Announces Financial Results for Q1 2008 Aug 1, 2007

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Mitsubishi Electric Corporation announced its financial results for the first quarter ending June 30, 2007, of the current fiscal year ending March 31, 2008 (fiscal 2008).

First quarter consolidated net sales grew 6% compared to the same period of the previous fiscal year due to increased revenue from the Energy and Electric Systems, Industrial Automation Systems, Electronic Devices, and Home Appliances segments. Consolidated operating income increased 63% from the same period of the previous fiscal year due to increased profit from the same segments.

The company's home appliance business saw a 15% increase  due to increased sales of electric hot water supply systems and other appliances.

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