MFP Sales up at Kyocera, but Total Company Earnings Down
For its latest fiscal quarter, Kyocera of Kyoto, Japan, reported that it recorded its “highest first-quarter consolidated revenue to date,” due to increased sales and earnings in its Information Equipment business segment. However, sales were down in the firm’s Electronic Device business, although earnings were up in the company’s Electronic Device businesses.
Net sales for the quarter were up 0.9 percent to 334.7 billion yen ($3.31 billion U.S.), but earnings were down by 11.9 percent, to 30.6 billion yen ($304 million U.S.). Net earnings for the quarter were 19 billion yen compared to 22 billion yen for the same quarter a year ago.
The firm reported that sales of MFPs grew due to “new product launches and activities to cultivate the markets and to expand sales.” Along with the effect of cost reductions, sales and operating profit in this business segment increased compared with the previous first quarter a year ago.
For its current fiscal year, Kyocera is forecasting net sales to be up 9.2 percent, and earnings to be up 9.3 percent, both compared to the previous fiscal year.