Ninestar impacted by COVID-19, 2020Q1 forecasts show
April 14, 2020
The company has released a performance forecast for the period 1 January to 31 March 2020 and sets out the impact of COVID-19 on the company.
Ninestar predicts that its profits will be down during the reporting period, compared to its last predictions and for the same period of the previous year.
The delays caused by the global COVID-19 pandemic meant that returning to work for employees was delayed and return to production was delayed. The company said its production and sales orders are reduced or delayed during the reporting period.
The consumables and microelectronics chip business declined in the first quarter of 2020 compared with the same period. Lexmark ’s printer business is operating normally in the first quarter of 2020, and its performance in the first quarter of 2020 is comparable to the same period of the previous fiscal year.
For the next quarter, predicted operating income of the consumables business is set to be ¥610 million ($86.43 million/ €78.95 million), and increase of 6% year-on-year. The chip business is set to have operating incomes of ¥220 million ($31.17 million/ €28.47 million) and the SCC business is predicted to have an operating income of ¥196 million ($27.77 million/ €25.36 million) in the next reporting period.
This performance forecast has not been audited by an accounting firm.
Categories : City News
Tags : Business Financials Ninestar
