NEC sees losses narrow

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High-tech giant NEC said Thursday its net loss narrowed to 29.7 billion yen in the April-June quarter in the absence of restructuring-related losses that caused a deep net loss a year earlier.

The company’s net loss shrank from 43.1 billion yen a year earlier. The operating loss fell to 19.4 billion yen from 23.2 billion yen, due partly to cost cuts.

Sales edged up 0.2% to 669.1 billion yen as revenue from NEC’s “carrier network business”, including wireless communications equipment and cable television systems, rose 12.9%.

NEC, which provides technology services and makes computers and electronic devices, was mired in the red the year before due partly to one-off losses incurred by the reorganization of its semiconductor operations.