Casio Computer Co. Ltd. posted a net profit of 5.6 billion yenmillion dollars) in the year to March, reversing a loss of 24.9 billion yen a year earlier. Its recurring profit stood at 12.3 billion yen, against a recurring loss of 17.8 billion yen.

Sales jumped 15.3 percent year-on-year to 440.57 billion yen.

"We were able to return to the black thanks to robust sales of digital cameras and mobile phones," said Casio spokesman Makoto Sasaki.

Sales in the electronics division, including digital cameras and mobile phones, rose 17.1 percent to 350.1 billion yen during the period.

The company also attributed the good earning results to cost-cutting measures worth 15 billion yen.

"Our cost-cutting efforts lifted our profits by some 10 billion yen," the spokesman said.

In its world-renowned watchmaking division, sales grew 9.5 percent over the year to 68.5 billion yen.

Casio forecast a net profit of eight billion yen for the current year to March 2004, with a recurring profit seen at 15 billion yen. Sales are expected to rise to 480 billion yen.

SPACE.WIRE