OKI Reports Loss, Lower Sales for First Quarter
Oki Electric Industry Company of Japan reported results for its first quarter that ended on March 31, 2017, with net sales down 2.8 percent to ¥90.4 billion ($0.82 billion) versus the same period of the previous fiscal year. OKI also reported a loss for its first quarter of ¥54.74 billion, versus a loss of ¥70.07 billion for the first quarter of its previous fiscal year.
OKI stated however that “its business performance turned out approximately as planned,” as it seeks to shift from office to commercial printers.
OKI noted that it benefited from a weaker Japanese yen versus other currencies.
Sales of office printers totaled ¥24.9 billion, down 2.6 percent versus sales of office printers totaling ¥27.5 billion for the first quarter of the previous fiscal year.
- May 2017: Difficult Fiscal Year for OKI, Cites Decline in Office Printing, Strong Yen
- February 2017: OKI Reports Loss for Nine-Month Period, Cites Yen, Decline in Demand for Office Printing
- November 2016: OKI Records Extraordinary Loss for First Half, Cuts Full-Year Forecast
- August 2016: Loss for Oki’s First Quarter, Cites Sharply Appreciated Yen
- May 2016: Sales, Profits Down for OKI’s Fiscal Year; Stronger Japanese Currency Seen as Culprit
- February 2016: OKI Struggles through Difficult Quarter, But Forecast Unchanged
- November 2015: Small Decline in Sales for OKI’s First Half, But Profits Slide; Will Expand Professional-Printer Business
- October 2015: OKI Sets Up New Wide-Format Printer Company with Acquisition of Seiko I Infotech’s Printer Business
- August 2015: Slight Dip in Printer/MFP Revenue for OKI’s First Quarter, but Total Sales Up