Foster Electric Company, Limited Reports Consolidated Earnings Results for the First Half Ended September 2017; Provides Earnings Guidance for the Year Ending March 2018; Announces Dividend for the Second Quarter Ended September 2017, Payable on December 6, 2017; Provides Dividend Guidance for the Year Ending March 2018
October 30, 2017 at 02:00 am EDT
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Foster Electric Company, Limited reported consolidated earnings results for the first half ended September 2017. For the period, net sales were JPY 80,286 million compared to JPY 68,342 million a year ago. Operating income was JPY 4,015 million compared to operating loss of JPY 182 million a year ago. Ordinary income was JPY 3,973 million compared to JPY 28 million a year ago. Profit attributable to owners of parent was JPY 2,559 million compared to loss of JPY 227 million a year ago. Basic earnings per share were JPY 99.46 compared to loss per share of JPY 8.51 a year ago.
On consolidated basis, the company provided earnings guidance for the full year ending March 2018. The company expects net sales of JPY 160,000 million, operating income of JPY 6,000 million, ordinary income of JPY 6,000 million, profit attributable to owners of parent of JPY 3,000 million or JPY 116.60 per basic share.
For the second quarter the company announced dividend of JPY 20.00 per share, payable on December 6, 2017 against JPY 15.00 per share paid a year ago.
For the year ending March 2018, the company expects to pay dividend of JPY 20.00 per share against JPY 25.00 per share paid a year ago.
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.
Foster Electric Company, Limited Reports Consolidated Earnings Results for the First Half Ended September 2017; Provides Earnings Guidance for the Year Ending March 2018; Announces Dividend for the Second Quarter Ended September 2017, Payable on December 6, 2017; Provides Dividend Guidance for the Year Ending March 2018