NGK Insulators Ltd. Reports Consolidated Earnings Results for the Full Year Ended March 31, 2016; Provides Earnings Guidance for the Six Months Ending September 30, 2016 and Full Year Ending March 31, 2017
May 01, 2016 at 10:55 am EDT
Share
NGK Insulators Ltd. reported consolidated earnings results for the full year ended March 31, 2016. For the year, net sales were JPY 435,797 million against JPY 378,665 million a year ago. Operating income was JPY 80,898 million against JPY 61,577 million a year ago. Ordinary income was JPY 81,498 million against JPY 61,068 million a year ago. Total extraordinary income was JPY 1,072 million against JPY 5,132 million a year ago. Income before income taxes and non-controlling interests was JPY 70,584,000 against JPY 56,390,000 a year ago. Profit attributable to owners of parent was JPY 53,316,000 against JPY 41,504,000 a year ago. Net cash provided by operating activities was JPY 59,445,000 against JPY 73,002,000 a year ago. Purchases of property, plant and equipment was JPY 42,693,000 against JPY 30,260,000 a year ago. Funds provided by operating activities were JPY 59,445 million. This was mainly attributable to posting an income before income taxes and non-controlling interests of JPY 70,584 million and depreciation and amortization, despite cash outflows mainly due to an increase in notes and accounts receivable and a decrease of provision for loss related to competition law.
For the six months ending September 30, 2016, the company expects to report net sales of JPY 200,000 million, operating income of JPY 33,000 million, ordinary income of JPY 32,000 million, profit attributable owners of parent was of JPY 32,000 million or profit per share of JPY 68.42.
For the full year ending March 31, 2017, the company expects to report net sales of JPY 410,000 million, operating income of JPY 60,000 million, ordinary income of JPY 63,000 million, profit attributable owners of parent was of JPY 44,000 million or profit per share of JPY 136.84.
NGK Insulators, Ltd. specializes in the design, manufacturing and marketing of electric and electronic components and equipments. Net sales break down by family of products as follows:
- ceramic products (57.3%): for automotive and industrial applications;
- components and equipment for industrial manufacturing processes (24.2%): components for semiconductor manufacturing equipment, corrosion-resistant ceramic apparatuses for chemical industries, gas analyzer, industrial heating systems, refractory products and radioactive waste treatment systems;
- electronic components (10.5%): especially for semiconductors manufacturing and special metals processing;
- electric equipments (8%): insulators and electric devices, batteries for electric power storage, etc.
Net sales break down geographically as follows: Japan (24.5%), Asia (30.4%), North America (21.7%), Europe (21.3%) and other (2.1%).
NGK Insulators Ltd. Reports Consolidated Earnings Results for the Full Year Ended March 31, 2016; Provides Earnings Guidance for the Six Months Ending September 30, 2016 and Full Year Ending March 31, 2017