The healthcare business of Japanese industrial conglomerate Toshiba was a bright spot in an otherwise gloomy financial picture for the company's first quarter of fiscal 2015 (end-June 30).
For the period, Toshiba's Healthcare Systems and Services unit posted sales of $676.8 million (81.5 billion yen), up 14% from revenues of $590 million (71.5 million yen) in the same quarter of 2014.
The healthcare segment's operating income plunged, however, to $722,000 (87 million yen), compared with operating income of $5 million (604 million yen) in the corresponding period of last year.
Toshiba said that sales of its healthcare products grew due in large part to firm sales of medical imaging systems, especially of CT scanners in North America and emerging countries. The segment's lower operating income reflected increased investment in R&D for next-generation products to accelerate future growth, the company said.
Most other business units reported a drop in revenues for the period. Toshiba declined to provide a forecast for fiscal 2015 (end-March 31) as it evaluates the operational effects of recent revelations of inappropriate accounting practices at the company.
