Summary of Financial Results for Fiscal Year Ended March 31, 2000
May 26th, 2000, Tokyo -- Oki Electric Industry Co., Ltd. today announced its summary of financial results for the fiscal year ended March 31, 2000, and forecast for the fiscal year ending March 31, 2001.
1. Financial Results for the Fiscal Year Ended March 31, 2000 (FY99)
1. Consolidated Results
(Million yen)
| FY99 | FY98 | Change | |
|---|---|---|---|
| Net sales | 669,776 | 673,170 | -0.5% |
| Ordinary profit | 7,212 | -47,795 | N/A |
| Net income | 1,146 | -47,421 | N/A |
2. Non-consolidated Results
(Million yen)
| FY99 | FY98 | Change | |
|---|---|---|---|
| Net sales | 488,658 | 486,625 | 0.4% |
| Ordinary profit | 13,400 | -44,300 | N/A |
| Net income | 5,148 | -32,323 | N/A |
| Cash dividends | 0 yen/Share | 0 yen/Share | N/A |
2. Comments
We implemented effective cost-cutting measures, focusing particularly on fixed expenses, to recover from our weak performance in fiscal 1998. In addition, we pushed ahead with the "Phoenix 21 Restructuring Plan" to introduce management systems based on international standards. Backed by such measures, consolidated net income rose to approximately 1.1 billion yen, a significant improvement from loss of 47.4 billion yen in the previous year.
3. Projections for the Fiscal Year Ending March 31, 2001 (FY00)
Projections for the Fiscal Year Ending March 31, 2001 (FY00) is summarized as below.
1. Consolidated Basis
(Million yen)
| Net sales | Ordinary profit | Net income |
|---|---|---|
| 750,000 | 17,000 | 9,000 |
2. Non-consolidated Basis
(Million yen)
| Net sales | Ordinary profit | Net income |
|---|---|---|
| 540,000 | 15,000 | 9,000 |
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