Ninestar Reports Upbeat Financial Results

In contrast to a few Japanese office-imaging vendors this week, Ninestar Corporation reported strong financial results this week.

The China-based Ninestar, which develops and markets aftermarket printer and MFP supplies and is the parent company of printer makers Lexmark International and China-based Pantum, released financial results for its third quarter, which refers to the January 1 to September 30, 2019 period.

Profits were up 43.63 percent year-over-year, with net profits totaling ¥306.14 million, and operating income totaling ¥6.05 billion, up 10.47 percent year-over-year.

In its preliminary report released last week, Ninestar had stated that Lexmark’s business is improving, and that net profit is increasing, mainly due to an increase in gross profit and a decrease in fees compared to fiscal-year 2018.

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