Oki net sales increased YoY
February 9, 2023
The company has posted net sales increases despite supply chain issues for production.
Oki posted net sales of ¥256.6 billion ($1.96 billion/ €1.82 billion) for the nine-month period ended 31 December 2022, which is a 10.2% increase year-on-year (YoY).
For the components and platforms business segment that includes OKI’s LED printers net sales for the period were ¥137.1 billion ($1.05 billion/ €973 million), down ¥1.4 billion ($10.7 million/ €9.9 million) year-on-year. Operating income for the business segment was -¥1.1 billion ($8.4 million/ €7.8 million), down ¥4.5 billion ($34 million/ €32 million) year-on-year.
Oki explained that supply chain issues continued to impact its third quarter results, but that the company is making progress in adapting to replacement parts through design changes. For the components and platforms business segment, Oki said that net sales increases in the peripheral products, due to the impact of foreign exchange rates.
In light of these latest earning trends, Oki revised downward the earnings forecast for the full fiscal year.
Categories : City News
Tags : Business Earnings Financials OEM OKI
