Seiko Epson Corporation Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2016; Revised Earnings Guidance for the Full Year of 2016
January 31, 2017 at 10:00 am EST
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Seiko Epson Corporation reported consolidated earnings results for the third quarter and nine months ended December 31, 2016. For the quarter, the company reported, revenue of ¥278,274 million, profit from operating activities of ¥29,519 million, profit before tax of ¥30,309 million, profit from continuing operations of ¥28,494 million, profit for the period attributable to owners of the parent company of ¥28,539 million, compared to revenue of ¥294,441 million, profit from operating activities of ¥40,197 million, profit before tax of ¥40,208 million, profit from continuing operations of ¥29,079 million, profit for the period attributable to owners of the parent company of ¥28,941 million, for the same period a year ago. Diluted earnings per share for the period were ¥81.02 against ¥80.89 a year ago. Diluted earnings per share from continuing operations for the period were ¥81.03 against ¥80.90 a year ago.
For the nine month, the company reported, revenue of ¥765,844 million, profit from operating activities of ¥57,293 million, profit before tax of ¥57,382 million, profit from continuing operations of ¥47,106 million, profit for the period attributable to owners of the parent company of ¥46,984 million, purchase of intangible assets of ¥5,093 million, purchase of property, plant and equipment of ¥42,316 million, net cash provided by operating activities of ¥60,903 million, compared to revenue of ¥837,422 million, profit from operating activities of ¥81,907 million, profit before tax of ¥80,314 million, profit from continuing operations of ¥55,278 million, profit for the period attributable to owners of the parent company of ¥54,969 million, purchase of intangible assets of ¥4,987 million, purchase of property, plant and equipment of ¥44,530 million, net cash provided by operating activities of ¥68,413 million, for the same period a year ago. Diluted earnings per share for the period were ¥132.92 against ¥153.64 a year ago. Diluted earnings per share from continuing operations for the period were ¥132.95 against ¥153.74 a year ago.
The company revised earnings guidance for the full year of 2016. For the year, the company expects to report revenue of ¥1,020.0 billion, business profit of ¥64.0 billion, profit from operating activities of ¥64.0 billion profit before tax of ¥63.0 billion profit for the period of ¥48.0 billion profit for the year attributable to owners of the parent company of ¥48.0 billion compared to previous guidance revenue of ¥1,000.0 billion, business profit of ¥60.0 billion, profit from operating activities of ¥60.0 billion, profit before tax of ¥59.0 billion, profit for the ¥46.0 billion, period of profit for the year attributable to owners of the parent company of ¥46.0 billion.
Seiko Epson Corporation specializes in the design, manufacturing and marketing of printing, visual communication and watchmaking equipment and systems, and industrial devices. Net sales break down by family of products as follows:
- printing equipment (71%): printers, scanners, copiers, digital presses, fax machines, ticket printers, labellers, etc. for businesses and individuals. The group also offers consumables (ink cartridges, toners, ribbons, etc.);
- visual communication systems (14.2%): multimedia projectors, smart glasses, LCD displays, etc. ;
- watches and industrial products (14.1%): electronic and mechanical watches, wristwatches, chronometers, optoelectronic devices, precision machine tools, robotic systems, mechatronic products, micro-devices, etc.
- other (0.7%).
At the end of March 2021, Seiko Epson operated 27 production sites worldwide.
Net sales are distributed geographically as follows: Japan (22.3%), the United States (21%), China (14.5%) and other (42.2%).
Seiko Epson Corporation Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2016; Revised Earnings Guidance for the Full Year of 2016