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.
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.
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.
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.
- November 2019: Xerox Completes Sale of Stake in Fuji Xerox
- November 2019: Fuji Xerox Will Continue to Supply Xerox, But Also Other OEMs
- November 2019: In Big Shakeup, Xerox to Exit Fuji Xerox Partnership
- August 2019: Revenue Down for Fujifilm’s Quarter, but Forecasts ‘Record High’ Net Income
- May 2019: Fujifilm Posts Upbeat Financial Results; Will Pursue Xerox Take-Over in Court