Fujitsu expects its first deficit ever

Article Abstract:

Fujitsu Ltd posts a loss for the first time in its history. The computer company expects the loss to total approximately $80 million for the first half of 1992, compared to a profit of 10.4 billion yen for the same period in 1991. Heavy competition, especially in the mainframe computer market, is blamed for weakening the company's financial position. While the parent company is expected to realize a small profit for the period, its subsidiary companies are expected to lose money, resulting in an overall deficit. Fujitsu's operations outside of Japan have been particularly hard hit. A UK start-up company has drained Fujitsu resources, and company officials announced the closing of a semiconductor facility that employed 260 in San Diego, CA.

Computer industry, Plant shutdowns, Layoffs, Layoff, Fujitsu Ltd., Competition, Financial Report

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Loss could force Businessland into bankruptcy

Article Abstract:

Businessland Inc, which once was considered to be the foremost computer retailer, is in financial trouble and could face bankruptcy. Businessland reports a $43 million loss for the 3rd qtr, ended Mar 31, 1991, which is its sixth consecutive quarterly loss. Businessland is now in violation of agreements with creditors, and ITT Financial Corp refuses credit for Businessland purchases of microcomputers from manufacturers. Businessland has not been able to adjust to competitive conditions in computer retailing in recent years.

Computer and software stores, Profits, Computer stores, Distribution channels, Bankruptcy, Retail/Reseller Channel, Third Quarter, Profit, Businessland Inc., BLI

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