KYOTO, Japan--(BUSINESS WIRE)--
Kyocera Corporation (NYSE:KYO)(TOKYO:6971) today announced its consolidated financial results for the first quarter of fiscal year 2018 (the three months ended June 30, 2017, or “Q1”), as summarized below. Complete details are available at: http://global.kyocera.com/ir/financial/f_results.html
|
Consolidated Results: Three Months Ended June 30 |
||||||||||||
| Unit: Millions (except percentages and per-share amounts) | ||||||||||||
| Three Months Ended June 30, | ||||||||||||
|
2016 |
2017 |
Increase |
2017 |
2017 |
||||||||
|
Amount |
% | |||||||||||
| Net sales: | 319,985 | 345,162 | 25,177 | 7.9 | 3,082 | 2,697 | ||||||
| Profit from operations: | 12,270 | 31,167 | 18,897 | 154.0 | 278 | 243 | ||||||
| Income before income taxes: | 24,798 | 49,260 | 24,462 | 98.6 | 440 | 385 | ||||||
|
Net income attributable to |
17,453 | 34,981 | 17,528 | 100.4 | 312 | 273 | ||||||
|
Diluted earnings per share |
47.58 | 95.13 | － | － | 0.85 | 0.74 | ||||||
| Note on exchange rates: U.S. dollar (USD) and euro (EUR) conversions are provided above as a convenience to the reader, based on the rates of USD1 = JPY112 and EUR1 = JPY128, rounded to the nearest unit (as of June 30, 2017) |
Summary
Revenue from sales of Industrial & Automotive
Components, Semiconductor Components and Electronic Devices increased
during Q1 due to rising demand from producers of automobiles,
communications infrastructure equipment and smartphones. Revenue from
Document Solutions expanded as well following the launch of new products
and sales promotion activities. As a result, consolidated net sales for
the three months ended June 30 increased by JPY25,177 (USD225) million,
or 7.9%, to JPY345,162 (USD3,082) million, compared with the same period
of the prior year.
Profit from operations increased 154.0%, to JPY31,167 (USD278) million, due mainly to stronger sales and continued cost reduction efforts. Income before income taxes increased 98.6%, to JPY49,260 (USD440) million, and net income attributable to shareholders of Kyocera Corporation increased 100.4%, to JPY34,981 (USD312) million.
Consolidated Forecast: Year Ending March 31, 2018
Kyocera
makes no change to the sales and profit forecasts for the year ending
March 31, 2018 that it announced on May 1, 2017, since these strong Q1
results are in line with the original projections as a whole.
| Unit: Yen in millions (except percentages, per-share amounts and exchange rates) | ||||||
|
Fiscal 2017 |
Fiscal 2018 |
Increase |
||||
| Net sales: | 1,422,754 | 1,500,000 | 5.4 | |||
| Profit from operations: | 104,542 | 120,000 | 14.8 | |||
| Income before income taxes: | 137,849 | 150,000 | 8.8 | |||
|
Net income attributable to |
103,843 | 105,000 | 1.1 | |||
|
Diluted earnings per share |
282.62 | 285.55 | - | |||
| Average USD exchange rate: | 108 | 108 | - | |||
| Average EUR exchange rate: | 119 | 115 | - | |||
| *Forecast of “Diluted earnings per share attributable to shareholders of Kyocera Corporation” is based on the diluted average number of shares outstanding during the three months ended June 30, 2017. |
FORWARD-LOOKING STATEMENTS
Except for historical information
contained herein, the matters set forth in this press release are
forward-looking statements that involve risks and uncertainties
including, but not limited to, product demand, competition, regulatory
approvals, the effect of economic conditions and technological
difficulties, and other risks detailed in the Company’s filings with the
U.S. Securities and Exchange Commission.
About
KYOCERA
Kyocera
Corporation (NYSE:KYO)(TOKYO:6971) (http://global.kyocera.com/),
the parent and global headquarters of the Kyocera Group, was founded in
1959 as a producer of fine
ceramics (also known as “advanced ceramics”). By combining these
engineered materials with metals and integrating them with other
technologies, Kyocera has become a leading supplier of industrial and
automotive components, semiconductor packages, electronic devices,
printers, copiers, mobile phones and solar power generating systems.
During the year ended March 31, 2017, the company’s consolidated net
sales totaled 1.42 trillion yen (approx. USD12.7 billion). Kyocera
appears on the “Top 100 Global Innovators” list by Clarivate Analytics
and is ranked #522 on Forbes magazine’s 2017 “Global 2000” list of the
world’s largest publicly traded companies.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170727006741/en/
