OKI Earnings Up, But Printer Revenue Down

OKI Electric Industry of Japan today reported results for the first nine months of its fiscal year, with the first nine months ending on December 31, 2019, and the fiscal year ending on March 31, 2020.

For the nine-month period, OKI reported net sales of ¥327.9 billion, up 9.5 percent year-over-year; operating income of ¥9.1 billion, up 83.1 percent year-over-year; and profits of ¥7.2 billion versus a loss of ¥1.6 billion for the same period a year earlier.

Net sales for OKI’s Printer group were ¥69.5 billion, down 9.3 percent year-over-year, and operating income was ¥2.2 billion, 52.4 percent.

OKI’s ICT group saw both revenue and operating income gains. Its Mechatronics Systems group saw revenue fall 10.2 percent year-over-year, but operating income was ¥0.3 versus a loss of ¥1.3 billion for the same period a year earlier. Net sales and operating income for the EMS group were down 12.2 and 60.4 percent, respectively. Net sales and operating income for OKI’s Other group were down 9.2 and 52.3 percent, respectively.

Forecast

For its fiscal year that will end on March 31, 2020, OKI is projecting net sales of ¥465.0 billion, up slightly versus its previous projection; operating income of ¥18.5 billion; and profits of ¥8.4 billion, with all projections up slightly versus the previous fiscal year.

For its Printer group, OKI is projecting net sales of ¥96 billion and operating income of ¥4.0 billion.

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