Mixed Financial Results for Fujifilm, But Raises Forecast

Fresh off its recent acquisition of Xerox’s 25-percent in Fuji Xerox, giving Fujifilm 100-percent ownership of Fuji Xerox, Fujifilm reported reported results for its second quarter and for the first half (April to September) of its fiscal year.

First Half

Revenue for the first half was ¥1,132.1 billion, down 3.2 percent year-over-year; operating income was ¥92.0 billion, up 9.7 percent year-over-year; and net income was ¥149.38 billion, down ¥3.05 billion year-over-year.

Fujifilm’s Document Solutions group posted revenue of ¥485.3 billion, down 2.5 percent year-over-year, but operating income of ¥54.9 billion, up 26.9 percent year-over-year. Fujifilm says that although sales were down in Europe and the United States, sales were up for color laser MFPs in Japan and Asia, including China. Sales were strong in all regions for the Iridesse color production digital press. Sales were also strong for IT services, with Fujifilm notably obtaining a large business processing outsourcing contract in Australia.

Second Quarter

For its second quarter – the three months that ended on September 30, 2019 – Fujifilm reported revenue of ¥596.8 billion, down 1.8 percent year-over-year; operating income of ¥54.9 billion, up 16.7 percent year-over-year; and net income of ¥46.4 billion, up 25.1 percent year-over-year.

Forecast

For its complete fiscal year that will end in March 2020, Fujifilm raised its forecast. It’s now forecasting net income of ¥7 billion – which it says would be a record high. The firm did lower its revenue forecast by 1.8 percent from its previous forecast to ¥2,435.0, which would be up 0.1 percent versus the previous fiscal year. For net income it’s forecasting ¥162.0 billion, which would also be a record high, and up 4.5 percent from the previous fiscal year.

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