OKI Revises Consolidated Earning Projections for the Fiscal Year ending March 31, 2013
TOKYO, September 14, 2012 -- Oki Electric Industry Co., Ltd. (TSE:6703) today announces it has revised its consolidated earning projections for the first half (from April 1, 2012 to Sept. 30, 2012) and for the full-year (from April 1, 2012 to March 31, 2013) from its previous projections announced on May 9, 2012, in light of recent business performance.
1. Revision of consolidated first half projections for the fiscal year ending March 31, 2013
(From April 1, 2012 to September 30, 2012)
| Net sales | Operating income | Recurring income | Net income | Net income per share | |
|---|---|---|---|---|---|
| billion yen | billion yen | billion yen | billion yen | yen | |
| Previous projections (A) | 188.0 | 0.0 | -1.5 | -2.0 | -2.74 |
| Revised projections (B) | 195.0 | -0.5 | -2.0 | -3.0 | -4.11 |
| Changes (B-A) | 7.0 | -0.5 | -0.5 | -1.0 | — |
| Percent change (%) | 3.7 | — | — | — | — |
| Reference: Results for the 1H, fiscal year ended March 31, 2012 | 186.2 | -2.9 | -5.2 | -9.7 | -13.22 |
2. Revision of consolidated full-year projections for the fiscal year ending March 31, 2013
(From April 1, 2012 to March 31, 2013)
| Net sales | Operating income | Recurring income | Net income | Net income per share | |
|---|---|---|---|---|---|
| billion yen | billion yen | billion yen | billion yen | yen | |
| Previous projections (A) | 440.0 | 18.5 | 15.5 | 11.0 | 13.64 |
| Revised projections (B) | 447.0 | 18.5 | 15.5 | 11.0 | 13.64 |
| Changes (B-A) | 7.0 | — | — | — | — |
| Percent change (%) | 1.6 | — | — | — | — |
| Reference: Results for the fiscal year ended March 31, 2012 | 423.5 | 12.0 | 9.1 | 1.6 | 0.32 |
Reasons for revisions
Net sales is expected to increase in info-telecom system business due to the continuing strong sales of ATMs in China, in addition to acquiring new orders, accompanying digitalization of social infrastructure systems such as disaster prevention adiministrative radio systems and fire prevention wireless communication systems. In the printer business, units in operation is steadily expanding due to effects of proactive sales investment and enhancement of product line-up through new product development, although sales plan for Spain will be reviewed. New areas in the EMS business, such as medical and ecological, will be developed proactively, despite the demand fall of semiconductor equipment related market.
As an outcome, projections for 1H of the FY ending March 2013 are; net sales 195.0 B yen (7.0 B yen increase from the previous projection), operating loss 0.5 B yen (0.5 B yen decline), recurring loss 2.0 B yen (0.5 B yen decline), and net loss 3.0 B yen (1.0 B yen decline).
For the full fiscal year, net sales is expected to increase by 7.0 B yen from the previous projection to 447.0 B yen, incomes are expected to remain the same; operating income 185.0 B yen, recurring income 15.5 B yen and net income 11.0 B yen.
Currency exchange for 2H used for consolidated earning projections is 76 yen/U.S. Dollar and 100 yen/Euro.
- Amounts are rounded to the nearest hundred million.
- The projections and plans on this release are subject to change depending upon the changes of business environments and other conditions.
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- * Information in the press releases is current on the date of the press announcement, but is subject to change without prior notice.