Advanex Inc. Reports Consolidated and Non-Consolidated Earnings Results for the Year Ended March 31, 2016; Provides Earnings Guidance for the First Half of 2017 and Full Year Ending March 31, 2017; Provides Dividend Guidance for the Year Ending March 31, 2017; Declares Dividend for the Year Ended March 31, 2016, Payable on June 24, 2016
May 10, 2016
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Advanex Inc. reported consolidated and non-consolidated earnings results for the year ended March 31, 2016. For the period, on consolidated basis, the company reported net sales of ¥19,073 million against ¥29,487 million a year ago. Operating income was ¥668 million against ¥1,081 million a year ago. Ordinary income was ¥671 million against ¥992 million a year ago. Net income was ¥587 million or ¥142.30 per diluted share against ¥535 million or ¥128.38 per diluted share a year ago. Return on equity was 8.7% against 9.1% a year ago. Cash flows from operating activities were ¥1,415 million against ¥2,139 million a year ago.
For the period, on non-consolidated basis, the company reported net sales of ¥8,067 million against ¥8,039 million a year ago. Operating loss was ¥402 million against operating income of ¥4 million a year ago. Ordinary loss was ¥358 million against ¥41 million a year ago. Net loss was ¥286 million or ¥70.02 per share against net income of ¥921 million or ¥222.68 per share a year ago.
For the first half of 2017, the company expects net sales of ¥9,400 million, operating income of ¥330 million, ordinary income of ¥320 million and net income of ¥180 million or ¥44.07 per share.
For the year ending March 31, 2017, the company expects net sales of ¥19,200 million, operating income of ¥800 million, ordinary income of ¥800 million and net income of ¥600 million or ¥146.91 per share.
The company declared a dividend of ¥35.00 per share for the year ended March 31, 2016 against ¥3.00 per share paid dividend a year ago. The dividend payable on June 24, 2016.
The company expects to pay a dividend of ¥40.00 per share for the year ending March 31, 2017 against ¥35.00 per share paid dividend a year ago.
ADVANEX INC. is a Japan-based company primarily engaged in the manufacture and sale of precision springs. The Company operates in four business segments. The Japan segment is engaged in the manufacture and sale of precision springs, sales of precision stamped products and motors. The Americas segment and Europe segment are engaged in the manufacture and sale of precision springs. The Asia segment is engaged in the manufacture and sales of precision springs, as well as manufacture and sales of metal stamping insert molding parts.
Advanex Inc. Reports Consolidated and Non-Consolidated Earnings Results for the Year Ended March 31, 2016; Provides Earnings Guidance for the First Half of 2017 and Full Year Ending March 31, 2017; Provides Dividend Guidance for the Year Ending March 31, 2017; Declares Dividend for the Year Ended March 31, 2016, Payable on June 24, 2016