Operating Profit, Net Income up for First Half of Brother’s Fiscal Year

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Brother International of Japan has reported results for the first half (April 1 to September 30, 2018) of its fiscal year that ends on March 31, 2019. Year-over-year, revenue was down 0.8 percent, operating profit was up 21.5 percent, and net income was up 25.9 percent. Sales were down 27 percent year-over-year.

In Brother’s Printing & Solutions group, sales were down 0.3 percent, but operating profit was up 29.0 percent.

The firm also reported that for its first half:

  • Sales of communications and printing equipment hardware remained strong in China and Asia.
  • In the home-sewing machines segment, orders for premium sewing and embroidery machines were strong.
  • Sales of industrial sewing machines were strong in each region.
  • In machine tools, automobile-related and general orders were strong, but IT-related orders decreased
    significantly.
  • Brother’s Domino business, which includes continuous-feed and label printers, maintained steady growth.

Within Brother’s Communications & Printing equipment group:

  • Monochrome laser printers and MFPs: Global sales of hardware, excluding OEM, decreased slightly compared to the previous year, but sales remained strong in Asia and China
  • Color laser printers and MFPs: Global sales are expanding steadily.
  • Inkjet printers and MFPs: Sales of models equipped with high-yield ink tanks have increased faster than planned.
  • Electronic Stationery: Label-printer business is tracking above plan on a global basis.
  • Solutions business is performing well in the United States.

Forecast

For its current fiscal year that ends on March 31, 2019, Brother is forecasting revenue of 690 billion yen, down 3.2 percent versus the previous fiscal year; operating profit of 70 billion yen, up 1.9 percent versus the previous fiscal year; and net income of 52 billion yen, up 4.0 percent versus the previous fiscal year. For its Printing & Solutions group, it’s forecasting that revenue will be up 2.0 percent, and operating profit will be up 0.8 percent.

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