Nitto Kogyo Corporation Reports Consolidated Earnings Results for the First Quarter Ended June 2016; Provides Consolidated Earnings Guidance for the Half Year and Full Year of Fiscal 2017
July 29, 2016 at 12:10 pm EDT
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Nitto Kogyo Corporation reported consolidated earnings results for the first quarter ended June 2016. For the quarter, the company reported net sales of JPY 23,473 million against JPY 23,087 million a year ago. Operating income was JPY 579 million against JPY 1,834 million a year ago. Ordinary income was JPY 511 million against JPY 1,801 million a year ago. Profit attributable to owners of parent was JPY 523 million against JPY 1,104 million a year ago. Basic earnings per share were JPY 12.95 against diluted earnings per share of JPY 27.29 a year ago.
The company provided consolidated earnings guidance for the half year ending September 2016 and full year ending March 31, 2017. For the half year ending September 2016, the company expects net sales of JPY 50,800 million, operating income of JPY 3,100 million, ordinary income of JPY 3,100 million, profit attributable to owners of parent of JPY 2,300 million and basic earnings per share of JPY 56.87.
For the full year ending March 31, 2017, the company expects net sales of JPY 113,000 million, operating income of JPY 9,600 million, ordinary income of JPY 9,500 million, profit attributable to owners of parent of JPY 6,600 million and basic earnings per share of JPY 163.18.
NITTO KOGYO CORPORATION is a Japan-based company mainly engaged in the manufacture and sale of switchboard-related products, as well as the purchase and sale of information and communication equipment. The Company operates in three business segments. The Switchboard-related segment manufactures and sells switchboards, cabinets, breakers, switches and parts, among others. The Information and Communication related Distribution segment purchases and sells information communication equipment and other materials. The Works and Services segment is engaged in the construction of electrical equipment and network systems, and the provision of maintenance service.
Nitto Kogyo Corporation Reports Consolidated Earnings Results for the First Quarter Ended June 2016; Provides Consolidated Earnings Guidance for the Half Year and Full Year of Fiscal 2017