Nidec Corp. Q1 Profit Slightly Up; Raises H1 And Full-year Guidance

(RTTNews) - Electric motors company Nidec Corporation (NJ) Tuesday reported a 0.6 percent increase in net income for the first quarter to 13.3 billion yen from 13.2 billion yen reported during the same quarter last year. Earnings per share were 92.93 yen compared with 91.53 yen last year. The company also increased first half and full- year financial outlook.

Net sales for the three-month period was 211.2 billion yen, a 18 percent increase from prior year's 179 billion yen.

The company revised its six months and full-year guidance. For the six months ending September 30, the company now expects to report net sales of 400 billion yen, revised from 380 billion yen. Net income is now seen at 24.5 billion yen, up from 21 billion yen expected earlier, and earnings per share at 182.5 yen per share compared with 155.9 yen per share guided earlier.

For the full year, the company now expects net sales of 820 billion yen, up from earlier expectations of 800 billion yen. Net income outlook is increased to 53.5 billion yen or 398.72 yen per share from 50 billion yen or 371.25 billion yen per share expected earlier.