Ricoh Earnings up 20.6 Percent, Posts Sales Gains for Office and Production Printing
February 2, 2014 – Ricoh Company of Japan has reported financial results for the nine months of its fiscal year (April 1 – December 30, 2014). Net sales for the period were ¥1,629.8 billion, an increase of 3.0 percent, while profit was ¥52.3 billion, an increase of 20.6 percent, both year-over-year.
Ricoh notes that, due to increased sales of color MFPs in Japan, the Americas, and Asia, expanded IT services overseas, and advantageous currency-exchange effects, it was able to able to achieve increased sales and profit, and is on course to meet its target for its full fiscal year.
Within Ricoh’s Imaging and Solutions business, sales of production-printing systems were up 6.6 percent, office-imaging products (printers and MFPs) were up 2.8 percent, and network system solutions were up 1.9 percent, all versus the same period a year ago.
Within office printers and MFPs, sales of monochrome MFPs were down 18 percent, but sales of color MFPs were up 6 percent. Sales of monochrome office printers were up 4 percent, but sales of color office printers were down 4 percent.
Total sales for Ricoh’s Imaging and Solutions business were up 3.0 percent to ¥1,452.4 billion.
A Closer Look at Segment Results
Sales for color MFPs increased by 2.8 percent to ¥1,105.7 billion, due to the weakening of the yen and the increase in sales in both the Japanese market and overseas markets for color MFP models introduced in the previous year.
Sales of production-printing systems were up 6.6 percent to ¥137.9 billion. Ricoh says this was achieved through an increase in sales of production-printer parts, supplies , and services in both the Japanese and overseas markets.
Sales of Network System Solutions were up 1.9 percent to ¥208.7 billion. Ricoh says that although there was a decline in demand for personal computers that affected overall sales in the Japanese market, the acquisition of mindSHIFT Technologies in the United States, and an increase in sales in the Indian market, offset this decline, resulting in an overall sales increase in this category.
Sales in Ricoh’s Industrial Products business were up 6.8 percent to ¥87.9 billion, due to an increase in sales in Ricoh’s Thermal business.
February 2014: RICOH REPORTS STRONG FINANCIAL RESULTS, RAISES OUTLOOK