Strong Quarter for Epson; Higher-Priced Inkjet Printers Help Drive Growth
Seiko Epson of Tokyo reported financial results for its latest fiscal period, the six months ending September 2014, with revenue up 8.8 percent to 512 billion yen, and net income up 145.4 percent to 87 billion yen, both compared to the same period a year ago.
According to the firm, demand for its inkjet printers remained firm in Europe, but contracted in Japan. Demand also increased slightly in North America. Demand for large-format inkjet printers decreased in Japan and was flat in Europe, while demand for large-format printers increased in China and remained firm in North America. Demand for dot-matrix printers shrank in the Americas, Europe, and China.
As part of its Three-Year Plan, Epson states that it’s moving away from consumer-only products to consumer and business products – such as its inkjet printers and All-in-Ones designed for business use.
Within its Information-Related Equipment group, Epson reports that inkjet printers experienced revenue growth. Although shipments of inkjet printers declined, printer revenue grew due to increased shipments of higher-priced inkjet printers equipped with high-capacity ink capacities. Inkjet-printer consumables revenue also grew. Revenue from large-format inkjet printers grew, due to increased demand in Asia, and favorable foreign-currency exchange rates. Overall, revenue for the Information-Related Equipment group was up 59.0 percent to 422.9 billion yen for the period.
Epson also revised its full-year outlook. It’s now forecasting revenue to be up 1.9 percent higher than it had previously forecast to 1060.0 billion yen, and profit to be 11.0 billion yen, up 11 percent more than it had previously forecast.
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