Densan System Co.,Ltd. reported consolidated and non-consolidated earnings results for the fiscal year ended December 31, 2011. For the year, the company reported consolidated net sales of JPY 21,027 million compared to JPY 19,153 million a year ago. Operating income was JPY 815 million compared to JPY 788 million a year ago. Ordinary income was JPY 829 million compared to JPY 802 million a year ago. Net income was JPY 450 million compared to JPY 422 million a year ago. Net income per share was JPY 99.60 compared to JPY 92.94 a year ago. Cash flows from operating activities were JPY 658 million compared to JPY 664 million a year ago. Payments for purchase of tangible fixed assets were JPY 240,318 million compared to JPY 185,285 million a year ago. Payments for purchase of intangible fixed assets were JPY 158,935 million compared to JPY 311,974 million a year ago. Payments for purchase of investment securities were JPY 276,611 million compared to JPY 114,027 million a year ago. For the year, the company reported non-consolidated net sales of JPY 20,421 million compared to JPY 18,469 million a year ago. Operating income was JPY 809 million compared to JPY 695 million a year ago. Ordinary income was JPY 820 million compared to JPY 706 million a year ago. Net income was JPY 442 million compared to JPY 401 million a year ago. Net income per share was JPY 97.69 compared to JPY 88.28 a year ago. The company declared cash dividend of JPY 14.00 per share for the year ended December 31, 2011 compared to JPY 26.00 per share for the previous year. The dividend is payable on March 28, 2012. The company expects cash dividend of JPY 17.00 per share for the second quarter of fiscal year 2012 compared to JPY 14.00 per share for the same period previous year. The company expects cash dividend of JPY 23.00 per share for the fiscal year ending December 31, 2012 compared to JPY 14.00 per share for the same period previous year. The company provided consolidated earnings guidance for the six months ending June 30, 2012 and fiscal year ending December 31, 2012. For the six months, the company expects consolidated net sales of JPY 11,190 million, operating income of JPY 315 million, ordinary income of JPY 322 million, net income of JPY 175 million and net income per share of JPY 39.00. For the year ending December 31, 2012, the company expects consolidated net sales of JPY 23,400 million, operating income of JPY 900 million, ordinary income of JPY 905 million, net income of JPY 490 million and net income per share of JPY 109.07. The company provided non-consolidated earnings guidance for the six months ending June 30, 2012 and fiscal year ending December 31, 2012. For the six months, the company expects non consolidated net sales of JPY 10,840 million, ordinary income of JPY 305 million, net income of JPY 170 million and net income per share of JPY 37.82. For the year ending December 31, 2012, the company expects non consolidated net sales of JPY 22,700 million, ordinary income of JPY 885 million, net income of JPY 484 million and net income per share of JPY 107.73.