|By Business Wire||
|January 31, 2014 05:54 AM EST||
Hoya Corporation (TOKYO:7741) today announced financial results for the third quarter ended December 31, 2013. The full reports are available at: http://www.hoya.com/investor/
During the quarter, revenues increased 21.0% to 109,690 million yen, and profit before tax increased 66.7% to 29,499 million yen compared with the same quarter last year. Profit for the quarter was up 114.9% to 22,274 million yen, and profit attributable to owners of the company was up 99.7% to 20,633 million yen year on year.
Products related to smartphones and tablet PCs in the Information Technology segment trended at solid levels, but sales declined in the products related to digital cameras. Meanwhile, revenues from eyeglass lenses grew substantially in the Life Care segment due to a recovery from the flooding in Thailand, and increase in sales resulting from the transfer of the eyeglass lenses operation from Seiko Epson Corporation in the fourth quarter of the previous year. Sales rose also because the contact lens and endoscope businesses showed healthy growth in addition to the effect of a weak yen.
For the nine months ended December 31, 2013, revenues were up 13.0% to 312,351 million yen and profit before tax was up 10.1% to 65,594 million yen year on year. Profit for the term was down 1.5% to 47,382 million yen, and profit attributable to owners of the company was down 4.9% to 45,663 million yen. Declines in profit were due mainly to temporary profits posted last year from insurance proceeds totaling 17,912 million yen related to the flooding in Thailand. Excluding the factor, profits increased in real terms.
"Overall impression of the quarter was that eyeglass lenses and endoscope businesses in Life Care segment showed healthy growth, and profitability of Information Technology segment has improved," said Hiroshi Suzuki, chief executive officer of HOYA. "For the coming year, there are some new medical products in the pipeline. We predict that Life Care segment will account for 70% of the entire sales in the future."
Summary of Consolidated Financial Statement
|(Millions of Yen: Rounded to the nearest million)|
|Three months ended||Variance||Nine months ended||Variance|
|Profit before tax||17,698||29,499||66.7||59,594||65,594||10.1|
|Profit for the term||10,366||22,274||114.9||48,114||47,382||-1.5|
|Profit attributable to owners of the company||10,331||20,633||99.7||48,015||45,663||-4.9|
|Basic earnings per share(yen)||23.94||47.79||111.28||105.80|
Hoya also announced the projected results for the fiscal year ending March 31, 2014. Hoya forecasts revenues of 413 billion yen (up 10.9% compared to the previous year), profit before tax of 76 billion yen (down 16.7%) and profit for the term of 54 billion yen (down 25.4%). Excluding temporary profits posted last year from insurance proceeds totaling 32,187 million yen related to the flooding in Thailand, profits will increase in real terms.
HOYA is a Japanese leading supplier of innovative and indispensable high-tech and healthcare products based on its advanced optics technologies. HOYA is active in two business segments: The Life Care segment deals in eyeglass lenses, medical endoscopes and intraocular lenses for cataract surgery as well as operates retail shops for contact lenses. The Information Technology segment handles products for semiconductors and LCD panels, glass disks for HDDs, optical lenses for digital cameras and smartphones. HOYA Group is comprised of over 100 subsidiaries and affiliates as well as over 35,000 people worldwide. For more information, please visit http://www.hoya.com