Brother Announces Latest Financial Results

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Brother Industries of Nagoya, Japan, today reported results for its fiscal first quarter (April 1 to June 30, 2018), with revenue up 2.0 percent to ¥171.1 billion ($1.53 billion), and profits up 81.1 percent to ¥16.5 billion, both versus the first quarter a year ago. Earnings per share for the quarter was ¥63.60, versus ¥35.23 for the first quarter a year ago.

Revenue for the Printing and Solutions group was ¥99.4 billion ($894.5 million), up 0.7 percent versus the ¥98.8 billion for the same quarter a year ago. Operating profit for the group was up sharply (up 75.1 percent) to ¥16.0 billion ($144.07 million), versus ¥9.1 billion for the same quarter a year ago.

Brother reported that “each business progressed soundly,” and  mainly according to plan. Revenue for laser and inkjet printers was strong in China and Asia. It also noted “large-scale revenue increases” for its industrial sewing machines group, which performed strongly in each region. It also noted increased revenue for its Machine Tools group, with automobile-related orders results compensating for a decline in IT orders.

In addition, Brother noted that “high profitability was maintained,” with a business profit rate for its Printing and Solutions group of 15 percent.

Outlook

For its current fiscal year that will end on March 31, 2019, Brother did not change its forecast. It’s forecasting revenue of ¥690 billion, down 3.2 percent, and profits of ¥52 billion, up 4.0 percent, with both versus the previous fiscal year.

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