Epson Reports Sales, Income up; Sales of Inkjet Consumables Increasing

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Seiko Epson of Tokyo reported its latest financial results for the nine months ended December 31, 2013. For the period, net sales were up 20.2 percent, while net income was 50 billion yen ($481 million U.S.), a sharp improvement over the loss of 12 billion yen it reported a year ago.

For its inkjet-printer business, Epson reports that while it missed its unit shipment target by a narrow margin, sales of  consumables steadily climbed in Europe and North America.

Epson Consolidated Financial Highlights

(Millions of yen, thousands of U.S. dollars, except for per share data)

Nine months ended December 31 Change Nine months ended December 31, 2013
2012 2013
Statements of Operations Data
Net sales ¥624,152 ¥750,493 20.2% $7,121,102
Operating income 11,794 74,919 535.2% 710,873
Ordinary income 12,097 71,947 494.7% 682,673
Net income (loss) (12,612) 50,768 -% 481,715
Comprehensive income (5,969) 79,214 -% 751,627
Statements of Cash Flows Data:
Net cash provided by (used in) operating activities (15,302) 70,179 -% 665,898
Net cash provided by (used in) investing activities (35,101) (27,429) -% (260,261)
Net cash provided by (used in) financing activities 32,018 (14,020) -% (133,029)
Cash and cash equivalents at end of period 135,395 227,870 68.3% 2,162,159
Per Share Data:
Net loss per share -Basic (¥70.50) ¥283.79 -% $2.69
-Diluted ¥- ¥- -% $-

Balance sheets data

(Millions of yen, thousands of U.S. dollars, except for per share data)

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March 31, 2013 December 31, 2013 December 31, 2013
Total assets ¥778,547 ¥894,767 $8,490,055
Net assets 258,806 334,330 3,172,312
Shareholders’ equity 256,745 331,907 3,149,321
Shareholders’ equity ratio (%) 33.0% 37.1% 37.1%
Shareholders’ equity per share ¥1,435.20 ¥1,855.36 $17.6
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