OKI Reports Improved Financial Results
OKI Electric Industry Company of Japan recently reported financial results for the nine months that ended on December 31, 2018, reporting net sales of 299.3 billion yen, down 0.7 percent year-over-year; operating income of 5.0 billion yen, versus a loss of 2.8 billion yen for the same nine months a year earlier; and a loss of 1.6 billion yen, versus a loss of 5.4 billion yen for the same nine months a year earlier.
Sales were down for OKI’s printer group, but this it said reflected “major projects in the first nine months of the previous fiscal year.” Sales for the printer group were 76.7 billion yen, down 3.5 percent year-over-year. However, operating income was up 2.5 percent to 4.5 billion yen, due to improvements in OKI’s cost structure and more favorable foreign-currency exchange-rate effects, specifically the depreciation of the Japanese yen versus other currencies.
For its complete fiscal year that will end on March 31, 2019, OKI adjusted its net sales slightly upwards to 440.0 billion yen, up 2.2 percent year-over-year. It’s also forecasting operating income of 15.0 billion yen, versus 7.7 billion yen for the previous fiscal year, and net income of 5.0 billion yen, versus 5.9 billion yen for the previous fiscal year.
- November 2018: OKI Reports Latest Financial Results
- July 2018: OKI Reports Latest Financial Results
- May 2018: OKI Reports Results for Fiscal Year
- February 2018: Profits, Sales Down for OKI, but Some Improvement in Printer Business
- October 2017: OKI Reports Smaller Loss, but Net Sales Down