OKI Raises Forecast for Fiscal Half Year Due to Improving Printer Business

OKI Electric IndusrtryOKI Electric Industry of Tokyo has revised its earning projections for the first half of its fiscal year (April 1 to September 30, 2014) to better reflect improvements in its printer business, as well as to reflect steady progress of its ATM business, particularly in China, and in its info-telecom systems business. As seen in the chart below, OKI now expects net sales of 228 billion yen, versus its previous forecast of 220 billion yen, and net income of 5.5 billion yen, versus its previous forecast of 1.0 billion yen.

Revision of consolidated projections for the first half of OKI’s fiscal year ending March 31, 2015 (from April 1 to September 30, 2014):

Net sales Operating income Ordinary income Net income Net income per share
billion yen billion yen billion yen billion yen yen
Previous projections (A) 220.0 3.0 1.0 1.0 0.69
Revised projections (B) 228.0 6.0 5.0 5.5 6.92
Changes (B-A) 8.0 3.0 4.0 4.5
Percent change (%) 3.6 100.0 400.0 450.0
Reference: Results for the 1st half of the fiscal year ended March 31, 2014 204.0 2.8 7.0 1.8 2.49

OKI also expects higher ordinary income than it previously forecast, due to the impact of favorable currency-exchange fluctuations and revision of non-operating expense, as well as due to improvements in operating income. The firm says it’s currently examining its full-year consolidated earning projections for the fiscal year ending March 31, 2015, and will promptly disclose any changes.

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