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NEC surfs Web wave

Japanese electronics giant NEC has revised upward its net profit forecast, due mainly to increased sales of equipment for intranet and Internet applications.

Japanese electronics giant NEC has revised upward its net profit forecast, due primarily to increased sales of equipment for intranet and Internet applications.

The company now expects to post unconsolidated sales of $34.6 billion, up slightly from an earlier prediction and more significantly from the year's end on March 31, when NEC posted $30.2 billion in unconsolidated sales, according to company reports.

NEC said it will earn an the extra $438 million from stronger-than-expected sales of personal computers, servers, and other equipment used to build Net applications.

Yet the picture is not all rosy. The company said its profits will show no change from the earlier projection of $921 million, compared with $882 million for the previous fiscal year which ended March 31. The results will be bogged down by an extraordinary loss taken by its NEC Technologies North American unit and restructuring of its troubled NEC Home Electronics unit.