Foster Electric Company, Limited Announces Audited Consolidated and Standalone Earnings Results for Full Year Ended March 31, 2016
May 30, 2016 at 04:44 pm EDT
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Foster Electric Company, Limited announced audited consolidated and standalone earnings results for full year ended March 31, 2016. For the year, the company reported net sales of JPY 190,928 million, ordinary income of JPY 10,847 million, net income attributable to owners of the parent of JPY 6,833 million, cash flows from operation activities of JPY 24,057 million compared to the net sales of JPY 189,124 million, ordinary income of JPY 10,398 million, net income attributable to owners of the parent of JPY 4,858 million, cash flows from operation activities of JPY 15,499 million for the same quarter a year ago. Net income per share was JPY 255.44 million against JPY 206.18 million a year ago. Return on equity was 11% against 9.1% a year ago. Income before income taxes was JPY 9,989 million.
For the year, on standalone basis, the company reported net sales of JPY 139,060 million, ordinary income of JPY 2,942 million, net income of JPY 3,096 million compared to the net sales of JPY 134,350 million, ordinary income of JPY 4,101 million, net income of JPY 2,504 million for the same quarter a year ago. Net income per share was JPY 115.73 against JPY 106.29 a year ago. Return on equity was 9.4% against 8.9% a year ago. Income before income taxes was JPY 3,493 million.
Foster Electric Company, Limited is a Japan-based company principally engaged in the manufacture and sale of speakers, audio equipment and electronic equipment. The Company operates in three business segments. Speaker segment is involved in the manufacture and sale of audios, televisions as well as in-vehicle speakers and speaker systems. Mobile Audio segment is involved in the manufacture and sale of headphones, headsets, small speakers and professional microphones. Others segment is involved in the manufacture and sale of buzzer and sounder products for alarm sounds, FOSTEX brand products, as well as the provision of logistics services.