SYS-CON MEDIA Authors: Adrian Bridgwater, Yeshim Deniz, Elizabeth White, Sean Houghton, Glenn Rossman

News Feed Item

KYOCERA Announces Consolidated Financial Results for Three Months Ended June 30, 2014

Kyocera Corporation (NYSE:KYO)(TOKYO:6971) today announced its consolidated financial results for the first quarter of fiscal year 2015 (the three months ended June 30, 2014, or “Q1”), as summarized below. Complete details are available at: http://global.kyocera.com/ir/financial/f_results.html

 

Financial Results: Three Months Ended June 30

Unit: Millions (except percentages and per-share amounts)

    Three Months Ended June 30,
2013

(FY14-Q1)

in JPY

  2014

(FY15-Q1)

in JPY

 

Increase
(Decrease)

 

2014
(FY15-Q1)
in USD

 

2014
(FY15-Q1)
in EUR

Amount

in JPY

  %
Net sales: 331,655 334,714 3,059 0.9 3,314 2,425
Profit from operations: 25,398 18,782 (6,616) (26.0) 186 136
Income before income taxes: 34,813 30,680 (4,133) (11.9) 304 222

Net income attributable to
shareholders of Kyocera
Corporation:

22,651 19,467 (3,184) (14.1) 193 141

Diluted earnings per share
attributable to shareholders of
Kyocera Corporation*1:

  61.74   53.06   -   -   0.53   0.38

Note: As a convenience to the reader, U.S. dollar (USD) and euro (EUR) conversions are provided based on the rates of USD1 = JPY101 and EUR1 = JPY138, rounded to the nearest unit.

 

Summary of Consolidated Financial Results

Digital consumer equipment, including the components required therein, represents the principal market for Kyocera Corporation and its consolidated subsidiaries (“Kyocera Group” or “Kyocera”). Compared with the three months ended June 30, 2013 (the “prior period”), Q1 brought essentially no growth in the mobile phone market globally as rising demand for smartphones was offset by contracting demand for conventional handsets. Growth in Japan’s solar energy market slowed due mainly to the completion of government subsidies for residential solar power generating systems, and to the impact of higher consumption tax. Conversely, global sales of automobiles increased steadily, particularly in China and the United States.

Kyocera succeeded in recording its highest first-quarter consolidated revenue to date, led by rising sales in the Information Equipment and Fine Ceramic Parts segments. Additionally, sales rose in the Semiconductor Parts segment due to revenue from a new subsidiary acquired in the prior fiscal year. In contrast, Q1 sales decreased in the Applied Ceramic Products segment as well as the Electronic Device segment which undertook structural reforms in the prior fiscal year. Consolidated Q1 profit declined due to lower profitability in the Applied Ceramic Products, Semiconductor Parts, and Telecommunications Equipment segments, which offset increased profit in the Information Equipment and Electronic Device segments.

In summary, consolidated net sales increased 0.9% over the prior period, to JPY334,714 (USD3,314) million; profit from operations decreased 26.0%, to JPY18,782 (USD186) million; income before income taxes decreased 11.9%, to JPY30,680 (USD304) million; and net income attributable to shareholders of Kyocera Corporation decreased 14.1%, to JPY19,467 (USD193) million.

Consolidated Forecasts for the Year Ending March 31, 2015

From the second quarter onward, Kyocera expects component demand to increase among producers of digital consumer equipment, led by new smartphone introductions, as well as the proliferation of smartphones in emerging markets. Kyocera will seize such demand and aim to expand sales of miniaturized, high-performance components; increase market share; and improve profitability by pursuing thorough cost reductions. In the automotive market, Kyocera will strive to enhance customer development and expand sales by applying the collective strengths of the Kyocera Group.

In the Telecommunications Equipment segment, Kyocera will work to increase sales of mobile phones by launching new products both in Japan and overseas and by cultivating major customers outside of Japan. In the Information Equipment segment, Kyocera will also make efforts to expand sales of printers and multifunctional products both in mature and emerging markets, while striving to enhance profitability by increasing production in Vietnam. Based on the above, the Company makes no change to the sales and profit forecasts for fiscal year 2015 that were announced on April 28, 2014.

 

Consolidated Forecast: Year Ending March 31, 2015

Unit: Yen in millions (except percentages, per-share amounts and exchange rates)

   

Fiscal 2014
Results

 

Fiscal 2015
Forecast

 

Increase
(Decrease)
(%) to Fiscal
2014 Results

Net sales: 1,447,369 1,580,000 9.2
Profit from operations: 120,582 135,000 12.0
Income before income taxes: 146,268 158,000 8.0

Net income attributable to
shareholders of Kyocera Corporation:

88,756 97,000 9.3

Diluted earnings per share attributable
to shareholders of Kyocera
Corporation*1,*2:

241.93 264.40 -
Average USD exchange rate: 100 100 -
Average EUR exchange rate: 134   137   -  
 

*1 A “two-for-one” split of all Kyocera Corporation common shares was implemented on October 1, 2013. To allow comparison, “Diluted earnings per share attributable to shareholders of Kyocera Corporation” is computed as though this stock split had taken effect on April 1, 2013.

*2 Forecast of “Diluted earnings per share attributable to shareholders of Kyocera Corporation” is based on the average number of shares outstanding during the three months ended June 30, 2014.

 

FORWARD-LOOKING STATEMENTS

Except for historical information contained herein, the matters set forth in this press release are forward-looking statements that involve risks and uncertainties including, but not limited to, product demand, competition, regulatory approvals, the effect of economic conditions and technological difficulties, and other risks detailed in the Company’s filings with the U.S. Securities and Exchange Commission.

About KYOCERA

Kyocera Corporation (NYSE:KYO)(TOKYO:6971) (http://global.kyocera.com/), the parent and global headquarters of the Kyocera Group, was founded in 1959 as a producer of fine ceramics (also known as “advanced ceramics”). By combining these engineered materials with metals and integrating them with other technologies, Kyocera has become a leading supplier of solar power generating systems, mobile phones, printers, copiers, electronic components, semiconductor packages, cutting tools and industrial ceramics. The company is ranked #531 on Forbes magazine’s 2014 “Global 2000” listing of the world’s largest publicly traded companies, and was named as the world’s No.1 manufacturer of advanced ceramics in the latest ranking by Ceramic Industry magazine.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the ...
This builds on Puppet Labs' first class Windows support, including native .MSI packages for x32 and x64 operating systems, modules to extend common Windows server management tools, including Powershell, and integrations with Microsoft Azure and Visual Studio. By automating common Windows administration tasks, Puppet Labs is enabling users to adopt DevOps practices, thereby reducing the time needed to deploy applications from weeks to hours.
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete...
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.
"SAP had made a big transition into the cloud as we believe it has significant value for our customers, drives innovation and is easy to consume. When you look at the SAP portfolio, SAP HANA is the underlying platform and it powers all of our platforms and all of our analytics," explained Thorsten Leiduck, VP ISVs & Digital Commerce at SAP, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, discussed how SAP and partners provide cloud and hybrid cloud solutions as well as real-time Big Data offerings that help companies of all sizes and industries run better. SAP launched an application challenge to award the most innovative SAP HANA and SAP HANA...
There's Big Data, then there's really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. In her session at Big Data Expo®, Hannah Smalltree, Director at Treasure Data, discussed how IoT, Big D...
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, examined three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective ...
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using ...
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Ar...
The term culture has had a polarizing effect among DevOps supporters. Some propose that culture change is critical for success with DevOps, but are remiss to define culture. Some talk about a DevOps culture but then reference activities that could lead to culture change and there are those that talk about culture change as a set of behaviors that need to be adopted by those in IT. There is no question that businesses successful in adopting a DevOps mindset have seen departmental culture change, ...
SYS-CON Media announced today that Skytap blog on "DevOps Journal" exceeded 84,000 story reads. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Noel Wurst is the managing content editor at Skytap. Skytap provides SaaS-based dev/test environments to the enterprise. Skytap solution removes the inefficiencies and constraints that comp...
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
The 4th International DevOps Summit, co-located with16th International Cloud Expo – being held June 9-11, 2015, at the Javits Center in New York City, NY – announces that its Call for Papers is now open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's large...