Mitsubishi electric 3Q financial results of Fiscal 2009

Mitsubishi Electric announced consolidated financial results for the first 9 months and third quarter of fiscal year 2009. Net sales decreased 3% for the first 9 months and 11% for the third quarter compared to the previous year. Operating income decreased 13% and 45% respectively due to decreased sales across several business segments. Mitsubishi Electric also revised downward their full year earnings forecast, expecting net sales to decrease 11% and net income to decrease 94% from the previous year due to continued weak economic conditions.