|By Business Wire||
|May 7, 2014 06:24 AM EDT||
HOYA Corporation (TOKYO:7741) today announced financial results for the fourth quarter and full-year ended March 31, 2014. During the quarter, revenues increased 19.9% to 115,224 million yen compared with the same period last year. Profit before tax totaled 19,892 million yen, while profit for the term amounted to 12,758 million yen, a decline of 37.1% and 47.5% from the previous year, respectively. In the same period, the previous year included insurance income of 14,275 million yen as compensation for damage suffered from flooding in Thailand. Excluding this one-off factor, profit before tax increased from the same period last year.
For the fiscal year ended March 31, 2014, revenues totaled 427,575 million yen, up 14.8% year on year. Profit before tax was 85,486 million yen and profit for the term was 60,140 million yen, a decline of 6.3% and 16.9% respectively year on year.
"Both revenues and profits of the eyeglass lens business fully recovered from the flooding in Thailand in the fourth quarter. We are planning to increase production capacity by opening a new plant this year." said Hiroshi Suzuki, chief executive officer of HOYA. "Sales for medical endoscope business grew at a healthy pace, and we are accelerating the growth by promoting newly introduced high-end series, ultrasound endoscopes and other unique products."
HOYA also announced year-end dividends forecast of 45 yen per share, a 10 yen increase compared with year-end dividends last year. The annual dividends, including the interim dividends of 30 yen per share, will amount to 75 yen per share. The official decision will be made at the Board of Directors meeting in late May.
Summary of Consolidated Financial Statement
|(Millions of Yen: Rounded to the nearest million)|
|Three months ended||Variance||Full year ended||Variance|
|Revenue from all operations||96,095||115,224||19.9||372,494||427,575||14.8|
|Profit before tax||31,610||19,892||-37.1||91,204||85,486||-6.3|
|Profit for the term||24,289||12,758||-47.5||72,403||60,140||-16.9|
|Basic earnings per share (yen)||56.19||29.46||167.47||135.26|
*Results are preliminary and unaudited.
The full reports are available at: www.hoya.com
Founded in 1941 in Japan, Hoya is a global technology company and the leading supplier of innovative and indispensable high-tech/medical products. Hoya is active in the fields of Life Care and Information Technology providing eyeglasses, medical endoscopes, intraocular lenses, optical lenses as well as key components for the semiconductor devices, LCD panels and HDDs. Hoya now has about 120 subsidiaries and employs over 36,000 people worldwide.
For more information, please visit http://www.hoya.com
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