Strong Financial Performance from OKI; Raises Forecast
OKI Electric Industry Company of Tokyo reported financial results for the nine-month April 1 to December 31, 2013 period, with net sales up 4.6 percent versus the same period a year ago, and net income up 15.8 percent, a sharp improvement over the 1.3 billion loss it reported for the same period a year ago.
For its third quarter, OKI reported that net sales increased by 14.1 billion yen, and operating income improved 11.1 billion yen, both versus the same quarter a year ago. It also said that the performance of its printer business “improved drastically” due to restructuring of the business.
OKI also revised its projections for its full fiscal year ending March 31, 2014 to reflect the favorable affects of the depreciation of the yen and its stronger business performance. It’s now projecting 484.0 billion yen in net sales, versus its previous projection of 480.0 billion yen, and net income of 25.0 billion yen, versus its previous projection of 15.0 billion yen.
OKI says performance of its printer business “improved drastically.” While sales of color and mono LED printers were down, sales of MFPs designed for the copier market were favorable. Its biggest gains, however, came in Info-Telecomm equipment.