Net Sales and Income up for Epson, Gains Traction in North America Office-Printer and Consumables Sales
Seiko Epson of Japan reported results for its second quarter ended September 30th, with net sales of 468,630 million yen, up 20.7 percent versus the same period a year ago, and net income of 18,441 million yen, up from a loss of 35,447 million yen for the same period a year ago.
Overall printer shipments increased, and Epson benefited from the depreciation of the Japanese yen. Shipments of inkjet printer were below plan due to slow economic recovery in Japan and Europe and postponement of a major channel sale in North America. However, sales of office printers in North America were steady, and sales of high-capacity ink tank models in emerging markets exceeded Epson’s forecast. Consumables sales were below Epson’s forecast in Japan, steady in Europe, and above Epson’s forecast in North America, due to an expanded office-printer installed base. Overall net sales and operating income both exceeded Epson’s forecast, in part due to sustained price-maintenance measures.
For the full fiscal year, Epson is revising its previous outlook upwards, forecasting net sales of 960.0 billion yen, an increase of 3.2 percent versus its previous outlook, and net income of 34.0 billion yen, an increase of 127.6 percent versus its previous outlook.