Kyocera H1 Profit Rises, Cuts FY Forecast

(RTTNews) - Kyocera Corp. (KYO), a developer of products for the information and communications market, Thursday said its first-half attributable net income totaled 50.792 billion yen, compared to 43.649 billion yen in the prior year.

Earnings per share climbed to 138.45 yen from 118.98 yen.

Profit from operations advanced to 61.949 billion yen from 54.751 billion yen.

Net sales improved to 722.577 billion yen from 714.329 billion yen in the prior year.

For the second half, the management expects lower aggregate demand in principal markets for both the components and equipment segments than was projected at the beginning of fiscal 2016.

As a result, the company now expects earnings per share of 231.70 yen, compared to the previous projection of 327.10 yen.

Net sales are now estimated to be 1.530 trillion yen, while the previous projection was for 1.6 trillion yen.