Ichikoh posts net profit of ¥2m in first nine months of FY 2010-11

Cuts full-year net profit outlook to ¥2bn from ¥3.6bn

Japanese component supplier Ichikoh Industries has posted a net profit of ¥2m (US$24,520, 31 December 2010) for the first nine months of the fiscal year ended 31 December 2010, reports Reuters. The supplier had posted a net loss of ¥3.75bn (US$40.6m, 31 December 2009) during the same period in FY 2009-2010. The company's revenues increased 5.9% year-on-year (y/y) to ¥70.93bn (US$869.7m) during the period. The increase in revenues helped support a turnaround from loss to profit during the nine-month period, moving from an operating loss of ¥766m (US$8.3m) in 2009 to an operating profit of ¥1.87bn (US$22.9m) in FY 2011.