Sales, Net Income up for Ricoh Japan’s Second Quarter, Fiscal Half-Year, Pushes Forecast Up
Ricoh Company of Japan posted very encouraging results for both its second quarter and fiscal half-year. For its second quarter ended September 31st, net sales were 533.8 billion yen, an increase of 16.5 percent versus the same quarter a year ago, while net income was 14.5 billion yen, an increase of 181.1 percent versus the same quarter a year ago.
First Half of Fiscal Year
For the first half of its fiscal year, Ricoh reported net sales of 1,055 billion yen, an increase of 15.5 percent versus the same half-year a year ago. Net income was 24.7 billion yen, an increase of 111.0 percent year-over-year. Ricoh says its cost-cutting and favorable exchange rates for the Japanese yen versus the U.S. dollar and Euro greatly increased its overall profit.
Within its Imaging Solutions division (network system solutions, production printing, and office MFPs and printers) sales were up 15.7 percent for the half-year. Production-printer sales were up 22.8 percent, while office-printing sales were up 12.5 percent. Sales of A4 MFPs pushed overall hardware sales up for the period.
Ricoh is revising its full-year forecast for sales and gross profit from it previous forecast announced in July. For the full year, its revised forecast calls for 50 percent more sales versus its previous forecast, which would amount to a 13.3 percent increase versus the previous fiscal year. It’s revised its gross-profits forecast up 16.0 percent versus the previous forecast, and up 16.6 percent versus the previous fiscal year. Its forecast for net income, however, remains the same, and would be up 146.6 percent versus the previous fiscal year.