TOKYO (AP) -- Fujitsu's quarterly profit quadrupled from the meager earnings eked out a year earlier when the Japanese electronics maker racked up heavy losses from job cuts in Europe.
Fujitsu Inc., which provides technology services for mobile devices and servers, reported Friday it made October-December profit of 16.5 billion yen ($200 million), up from 4.1 billion yen the same quarter in 2009.
Sales dipped 4 percent to 1.096 trillion yen ($13.3 billion) as demand weakened in technology services and electronic components.
Sales were also hurt by the rising yen, which reduces the overseas earnings of Japanese exporters, erasing 45 billion yen ($544 million) from Fujitsu's sales.
"We continue to generate steady profits from our core business areas despite the challenging market environment we find ourselves in," Masami Yamamoto, president of Fujitsu, said in a statement.
For the first nine months of the fiscal year through March, Fujitsu reported 35.6 billion yen ($430 million) in profit, down nearly 25 percent, on 3.243 trillion yen (US$39 billion) sales, down 2.7 percent.
Fujitsu lowered its profit forecast for the full fiscal year ending March 2011 to 75 billion yen ($907 million). In October, it had projected a profit of 95 billion yen ($1.1 billion).
Fujitsu shares dropped 2.5 percent to close at 545 yen ($6.6) in Tokyo.