OKI Reports Mixed Financial Results

OKI Electric Industry of Japan today reported financial results for the first quarter of its fiscal year that will end on March 31, 2020.

OKI reported somewhat improved fiscal results, mainly due to a positive performance by its Information and Communications Technology (ICT) group. Net sales were up 18.7 percent year-over-year to 107.6 billion yen, and operating income was up 1.9 percent to 1.1 billion yen. OKI however reported a loss of 0.4 billion, but this was an improvement over the loss of 0.8 billion yen reported for the same quarter a year earlier.

Printer/Copier Business

Net sales for OKI’s printer/copier business were down 2.3 percent year-over-year, and operating profit was down 1.4 percent.

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