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Short Take: Chipmaker Oki Electric to post yearlong loss

Japanese DRAM chipmaker Oki Electric Industry issued revised 1998 fiscal year numbers that show the company expects to lose 43 billion yen, or more than $320 million, on a consolidated 12-month basis. The company said it has "suffered from a continuous drop in prices of memory devices." Previously, the company anticipated net income of 1 billion yen, or $7.5 million, for the year ending March 31, 1999.

Japanese DRAM chipmaker Oki Electric Industry issued revised 1998 fiscal year numbers that show the company expects to lose 43 billion yen, or more than $320 million, on a consolidated 12-month basis. The company said it has "suffered from a continuous drop in prices of memory devices." Previously, the company anticipated net income of 1 billion yen, or $7.5 million, for the year ending March 31, 1999.