The OEM has released its fourth quarter and full year 2020 consolidated financial results.
For the fourth quarter, Epson recorded total sales revenue of ¥277.9 billion ($2.09 billion/ €1.73 billion), a year-on-year increase of ¥30.3 billion ($278 million/ €230 million). Its Printing Solutions business segment saw a year-on-year increase during the reporting period of ¥26.3 billion ($241 million/ €200 million), to ¥200.8 billion ($1.84 billion/ €1.53 billion).
Epson said that for the fourth quarter it saw continued demand for at-home printing and its ink sales stayed firm. High-capacity ink tank printer sales stayed strong and office printer sales steadily expanded during the quarter.
For the full year 2020, Epson recorded sales revenues of ¥995.9 billion ($9.14 billion/ €7.57 billion), a year-on-year decrease of 4.6% but 1.6% above expectations. For the full year period, the Printing Solutions business segment saw revenues of ¥707.7 billion ($6.5 billion/ €5.38 billion) which was ¥7.7 billion ($71 million/ €59 million) above the forecasted values but down ¥0.8 billion ($7.3 million/ €6.1 million) year-on-year.
Epson said that for the full year it saw high-capacity ink tank printer and ink sales were firm because of heightened at-home print demand but unit shipments decreased due to suspension of operations and logistics delays due to the pandemic.
In its FY2021 financial outlook predictions, Epson said that in the Printing Solutions business segment it believes that it will see growth in office inkjet printers and commercial and industrial inkjet printer sales. Epson added that at-home print demand in office and home printing will subside in the second half of 2021 and the OEM anticipates a restoration of the competitive market environment and spending on sales promotions for 2021.
