Maruichi Steel Tube Ltd. reported consolidated earnings results for the first quarter ended June 2016. For the quarter, the company reported net sales of JPY 31,541 million against JPY 36,999 million a year ago. Operating income was JPY 5,399 million against JPY 3,193 million a year ago. Ordinary income was JPY 5,784 million against JPY 3,785 million a year ago. Profit attributable to owners of parent was JPY 1,171 million against JPY 3,292 million a year ago. Diluted earnings per share were JPY 14.14 against JPY 38.97 a year ago.

The company provided earnings guidance for the first half ending September 2016 and full year ending March 2017. For the first half, the company expects net sales of JPY 65,800 million, operating income of JPY 11,300 million, ordinary income of JPY 11,800 million, profit attributable to owners of parent of JPY 8,400 million and basic earnings per share of JPY 101.52.

For the full year, the company expects net sales of JPY 134,800 million, operating income of JPY 22,300 million, ordinary income of JPY 23,000 million, profit attributable to owners of parent of JPY 16,400 million and basic earnings per share of JPY 198.20.