Ninestar Reports on Lexmark 2018 Financial Results

On May 6th, Ninestar Corporation – previously known as Apex Technology – reported detailed results for its printer-consumables and for Lexmark International, which it purchased in 2016.

Ninestar, which is based in China, reported that for its entire 2018 fiscal year, which ended on December 31, 2018, revenue was ¥21.926 billion, up 2.83 percent year-over-year; net profit was  ¥634 million, up 153.89 percent; and cash flow from operating activities was  ¥2.159 billion, up 447.94 percent.

Lexmark 2018 Results

For fiscal-year 2018, Lexmark recorded net profit of ¥366.88 million ($54.231 million) and revenue of ¥17.175 billion ($2.538 billion), up 8.59 percent year-over-year.

However, Ninestar reported that the number of Lexmark printers sold decreased 4.0 percent, due to Lexmark’s adjustment of its sales strategy in Europe, as well as reduced hardware promotions.

During 2018, Ninestar says that Lexmark “optimized the company’s structure, reduced labor cost, and improved operational efficiency.” Ninestar also stated that Lexmark’s printer-consumables’ group in Zhuhai, China, has “entered a mature period” and that annual production exceeded expectation. Lexmark’s “production costs will be reduced via a joint procurement and production project aimed at improving the supply-chain costs.”

Pantum Printer 2018 Results

Ninestar also reported on results for its Pantum-printer group for 2018. The company reported that global shipments and revenue for Pantum printers continued to grow at a rate exceeding 50 percent.

Ninestar stated it’s expanding sales of Pantum printers, and “actively explored overseas markets, especially in Russia.” Pantum printer sales in Russia reached some 200,000 units in 2018.

Chips Business 2018 Results

For its chips used in printer consumables, Ninestar reported that its Apex division’s revenue reached  ¥1.99 billion, with year-over-year growth of 8.43 percent, and that net profit was  ¥672.63 million, up 13.83 percent year-over-year.

Printer-Consumables 2018 Results

For its printer consumables business, Ninestar reported that revenue was ¥2.159 billion, up 17.64 percent, and net profit was  ¥279.78 million, down 4.88 percent, due to increased R&D expenses.

First-Quarter 2019

For its first-quarter of 2019, revenue was ¥5.129 billion and net profit was  ¥52 million.

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