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Tokyo Electron Annual Profit Jumps; Expects More Growth

Japanese chip maker Tokyo Electron Ltd. has posted a 15.7 percent jump in its annual recurring profit of 75.95 billion yen (690 million), up from 65.6 billion yen in the prior year and above the consensus figure of 73 billion yen. Consolidated Annual revenue for the year was 673,686 million yen.

The Tokyo-based company sees annual 2007 net profit climbing to 63 billion yen. Tokyo Electron said it expects sales of semiconductor-making equipment to jump 11 percent to 542 billion yen in 2006/07, helped by a steady flow of orders from producers of NAND flash memory and dynamic random access memory (DRAM) chips.

Tokyo Electron said it sees global spending on chip equipment to grow 10-15 percent in 2006, above an industry group's previously released forecast for 8 percent growth.


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