Kyocera 9-Month Profit Declines; Revises FY Forecast - Quick Facts

(RTTNews) - Kyocera Corp. (KYO), a developer of products for the information and communications market, reported Friday that its nine-month net income attributable to shareholders declined 19.6 percent to 59.50 billion Japanese yen or $492 million from last year's 73.97 billion yen.

Earnings per share were 162.20 yen or $1.34, lower than 201.63 yen a year ago.

Profit declined due primarily to an impairment of goodwill in the Electronic Device Group, and reduced profit in the Information Equipment Group due mainly to the impact of currency exchange fluctuations.

Net sales edged down 0.8 percent to 1.09 trillion yen or $9.03 billion from 1.10 trillion yen last year.

Looking ahead, for the fourth quarter, sales of components for semiconductor processing equipment and automobiles are expected to increase steadily. However, the business environment in the quarter is expected to differ from previous forecast due mainly to the slowing of the Chinese economy.

In consideration of these circumstances, Kyocera has revised its full-year forecast, and now expects attributable net income of 90 billion yen or 245.33 yen per share on sales of 1.48 trillion yen. The company previously expected net income of 85 billion yen or 231.70 yen per share on sales of 1.53 trillion yen.