NTT Com Announces Financial Results
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| NTT Communications (NTT Com) on May 14 announced its non-consolidated financial results for the fiscal year ended March 31, 2002. Operating revenue came to ¥1,275.1 billion (US$9,587 million), down 5.9%, and recurring profit totaled ¥75.1 billion (US$565 million), down 7.9%. The company had a net loss of ¥410.7 billion (US$3,088 million) due to the posting of an extraordinary loss on the revaluation of overseas investments. "OCN" ISP revenues shot up 37.0% due to the launch of new ADSL services. Revenues from data/IP and voice services reached parity, a major turning point in NTT Com’s ongoing transformation into a "Global IP Company." NTT Com also expanded its OCN subscriber base to more than 3 million users. Among global operations, sales and other operations were integrated with U.S.-based Verio Inc. (acquired in September 2000). Verio carried out an aggressive restructuring program during the year to turn itself into a profitable organization. |