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Mitsubishi Electric Net Income Increases 19%
Jul 29, 2008
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Mitsubishi Electric Corp. said fiscal 1Q profit rose 19% to a record, helped by sales of audio-visual products and withdrawal from handset operations.

Net income increased to 55.3 billion yen (approx. $512 million) in the three months ended June 30, from 46.5 billion yen a year earlier.

Income in the company's home appliance business, which comprises air-conditioners, refrigerators, flat-panel televisions, and DVD recorders, jumped 21% to 22.5 billion yen in the quarter as revenue increased 6.6% to 253.9 billion yen.

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