OKI unveils latest financial results
February 4, 2019
The company has announced its consolidated financial results for the first nine months of the fiscal year ending 31 March 2019.
OKI has announced net sales for this financial period of ¥299.3 billion ($2.7 billion/€2.3 billion), marginally less than the ¥300 billion ($2.7 billion/€2.3 billion) from the same period the previous fiscal year.
Operating income was cited as ¥5 billion ($45.4 million/€39.7 million) while ordinary income was reported at ¥2.8 billion ($25.4 million/€22.2 million).
For the Full Year 2019/3, OKI predicts net sales of ¥440 billion ($4 billion/€3.4 billion), operating income of ¥15 billion ($136.5 million/€119.2 million) and ordinary income of ¥13 billion ($118.3 million/€103.3 million).
OKI has stated that “Net sales were at the same level as in the first nine months of the previous fiscal year. The consolidation of a subsidiary in the EMS business and an increase in sales in the ICT business offset lower sales in the Mechatronics Systems and Printers businesses.”
The company added, “Operating income improved considerably year on year, mainly due to the impact of cost reduction efforts such as structural reforms.”
Regarding its Printer business, OKI said that “Sales decline, reflecting major projects in the first nine months of the previous fiscal year.” However, in this sector, operating income “grew, due to an improvement in the fixed cost structure and the impact of currency exchange.”
Looking ahead, the OEM says it expects quarterly business performance for its Printers business to stabilise, “allowing for higher profits than we had anticipated throughout the year”. The company adds, “We anticipate a large improvement in operating income compared to our original projections.”
Categories : City News
Tags : 2019 Financials
