Profits, Sales Down for OKI, but Some Improvement in Printer Business
Last week, Oki Electric Industry Company of Tokyo, Japan, reported financial results for the nine months ending on December 31, 2017, with net sales down 1.6 percent, and the company reporting a loss of 138.05 billion yen, versus a loss of 64.92 billion yen for the same period a year earlier.
OKI says that, overall, its business plan is proceeding according to its plan, and it expects to complete its reformation of its printer business by the end of its fiscal year, which is in March 2018. Within its printer business, sales were “roughly as planned,” although sales declined somewhat year-over-year, with printer sales down 1.8 percent to 80.2 billion yen year-over-year. However, operating income for OKI’s printer business increased year-over-year, with operating income for its printer business totaling 2.0 billion yen, versus a loss of 0.7 billion yen for the same period a year previously.
For its full fiscal year that will end in March 2018, OKI is forecasting net sales of 455.0 billion, versus 451.60 billion yen for the previous fiscal year, and operating income of 13.0 billion yen, versus 2.5 billion yen for the previous fiscal year.
- December 2017: OKI Europe Consolidates Europe, Middle East and Africa Sales Operations
- November 2017: OKI Data Americas Names Johnson Plastic Plus Primary Reseller for its Textile-Transfer Printers
- October 2017: OKI Reports Smaller Loss, but Net Sales Down
- ugust 2017: OKI Reports Loss, Lower Sales for First Quarter
- May 2017: Difficult Fiscal Year for OKI, Cites Decline in Office Printing, Strong Yen
- February 2017: OKI Reports Loss for Nine-Month Period, Cites Yen, Decline in Demand for Office Printing
- November 2016: OKI Records Extraordinary Loss for First Half, Cuts Full-Year Forecast