TOKYO (dpa-AFX) - Nikon Corp. (NINOF.PK, NINOY.PK), a Japanese optics and imaging equipment maker, on Tuesday reported a decline in earnings for the first-quarter, amidst lesser demand for products and services of certain segments, and higher costs. However, the company registered a rise in revenue due to strong sales of mid- to high-end products.
In addition, the Tokyo-based firm has revised down its first-half outlook. However, it has raised its full year revenue guidance.
For the three-month period to June 30, the company posted a net profit of 2.241 billion yen or 7.40 yen per share, a sharp drop from 11.795 billion yen or 32.21 yen per share, registered for the same period of 2022.
Pre-tax income was at 4.817 billion yen as against last year's 16.507 billion yen.
Operating income plunged to 3.290 billion yen from 15.357 billion yen a year ago.
Cost of sales moved up to 91.797 billion yen from 78.926 billion yen of previous year.
Selling, general and administrative expenses were at 63.381 billion yen, compared with 51.781 billion yen of last year period. Revenue improved to 158.146 billion yen from previous year's 145.648 billion yen.
Looking ahead, for the six-month period to September 30, the company now expects profit of 12 billion yen or 34.66 yen per basic share against its previous forecast of 17 billion yen or 49.11 yen per basic share. Revenue for the first-half is now projected to be at 325 billion yen against its earlier expectation of 335 billion yen.
For the 12-month period to March 31, 2024 or full year, the company still expects to post earnings of 35 billion yen, with an operating income of 43 billion yen.
Annual basic income per share is now projected to be at 101.09 yen against previous forecast of 101.11 yen per share.
For full year, Nikon now projects revenue of 670 billion yen, higher than its previous outlook of 665 billion yen.
For full year, the company aims to pay a total dividend of 50 yen per share, which includes 25 yen per share dividend for the second-quarter and remaining 25 yen per share as year-end dividend. Last year, Nikon had paid a total dividend of 45 yen per share.
Copyright(c) 2023 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2023 AFX News
