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Toshiba Posts First-Quarter Profit on Home Appliances

July 28 (Bloomberg) -- Toshiba Corp., the world’s second-largest maker of flash memory chips, posted 470 million yen ($6 million) in quarterly profit, exceeding analyst estimates, on demand for power systems and home appliances.

Net income in the three months ended June 30 increased from 466 million yen a year earlier, the Tokyo-based company said in a statement today. Analysts expected a loss of 7 billion yen, based on the average of five estimates compiled by Bloomberg.

Sales of home appliances including air conditioning and LED lights helped ease damage from Japan’s 9-magnitude earthquake and tsunami in March, the maker of Regza televisions said.

The company kept its annual forecasts unchanged.

To contact the reporter on this story: Naoko Fujimura in Tokyo at nfujimura@bloomberg.net

To contact the editor responsible for this story: Young-Sam Cho at ycho2@bloomberg.net

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