Company Name: Alpine Electronics, Inc.
Representative: Nobuhiko Komeya, President
July 27, 2016
Code Number: 6816 (First Section of the Tokyo Stock Exchange) Inquiries: Hitoshi Kajiwara, Managing Director,
Administration
TEL: +81-3-3494-1101 (from overseas)
Parent Company: ALPS ELECTRIC CO., LTD. Representative: Toshihiro Kuriyama, President
Code Number: 6770 (First Section of the Tokyo Stock Exchange)
Notice of Revisions to Earnings Forecasts for First Six Months and Full Year of Fiscal Year Ending March 31, 2017Alpine Electronics, Inc. hereby announces that in light of recent earnings trends, the earnings forecasts for the fiscal year ending March 31, 2017 (April 1, 2016 to March 31, 2017), which were announced on April 27, 2016, have been revised as described below.
Revisions to consolidated earnings forecasts
Revisions to consolidated earnings forecasts for the first six months ending September 30, 2016 (from April 1, 2016 to September 30, 2016)
Net sales
Operating income
Ordinary income
Profit attributable to owners of parent
Basic earnings per share
Previous forecasts (A) (Announced on April 27, 2016)
Millions of yen
131,400
Millions of yen
1,200
Millions of yen
1,200
Millions of yen
400
Yen 5.80
Revised forecasts (B)
125,000
600
(600)
(2,000)
(29.01)
Change (B − A)
(6,400)
(600)
(1,800)
(2,400)
-
Change (%)
(4.9)
(50.0)
(150.0)
(600.0)
-
(Reference)
Results of the corresponding period of the previous fiscal year (First six months ended September 30, 2015)
139,757
3,550
3,845
11,405
165.30
Revisions to consolidated full-year earnings forecasts for the fiscal year ending March 31, 2017 (from April 1, 2016 to March 31, 2017)
Net sales
Operating income
Ordinary income
Profit attributable to owners of parent
Basic earnings per share
Previous forecasts (A) (Announced on April 27, 2016)
Millions of yen
262,000
Millions of yen
4,500
Millions of yen
4,500
Millions of yen
1,500
Yen 21.76
Revised forecasts (B)
255,600
3,900
2,700
(900)
(13.06)
Change (B − A)
(6,400)
(600)
(1,800)
(2,400)
-
Change (%)
(2.4)
(13.3)
(40.0)
(160.0)
-
(Reference)
Results of the previous fiscal year (Fiscal year ended March 31, 2016)
273,056
5,434
6,170
10,698
155.14
Reasons for revisions
Earnings forecasts for the first six months
Concerning the earnings forecasts for the first six months, net sales and operating income are expected to be below initial forecasts due to the yen being stronger than had been expected for exchange rates.
Ordinary income and profit attributable to owners of parent are both expected to be below initial forecasts due to the decrease in operating income and the recording of foreign exchange losses.
The exchange rates assumed for the second quarter ending September 30, 2016 are US$1 = ¥105.00 (initially US$1 = ¥110.00) and €1= ¥115.00 (initially €1= ¥125.00).
Earnings forecasts for the full year
Concerning the earnings forecasts for the full year, though earnings forecasts for during and after the third quarter have not been revised, in light of the forecasts for the first six months, earnings forecasts for the full year are expected to be below initial forecasts due to the impact on the global economy caused by issues regarding the U.K.'s leaving from the EU, and uncertainty regarding trends in exchange rates.
The exchange rates for during and after the third quarter ending December 31, 2016 have not been revised from the initial assumed rates.
Cautionary Statement:
The above forecasts are calculations on the basis of the information available as of the date of this announcement. Actual results may differ from forecast figures depending on a variety of factors.
Alpine Electronics Inc. published this content on 04 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 04 August 2016 07:20:10 UTC.
Original documenthttp://www.alpine.com/e/investor/library/pdf/kessai/ja/2016_en.pdf
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