Sumitomo Bakelite Co. Ltd. announced consolidated earnings results for the first quarter ended June 30, 2016. For the quarter, the company reported net sales of ¥49,185 million, operating income of ¥3,711 million, ordinary income of ¥3,890 million and profit attributable to owners of parent of ¥2,728 million or ¥11.59 per share compared to net sales of ¥52,993 million, operating income of ¥2,684 million, ordinary income of ¥2,834 million and profit attributable to owners of parent of ¥1,643 million or ¥6.82 per share a year ago. Profit before income taxes and non-controlling interests was ¥3,829 million against ¥2,871 million a year ago.

The company provided consolidated earnings guidance for the six months ending September 30, 2016 and full year ending March 31, 2017. For the six months, the company expects net sales of ¥107,000 million, operating income of ¥7,200 million, ordinary income of ¥7,500 million and profit attributable to owners of parent of ¥4,300 million or ¥18.27 per basic share.

For the full year, the company expects net sales of ¥215,000 million, operating income of ¥15,000 million, ordinary income of ¥15,500 million and profit attributable to owners of parent of ¥9,000 million or ¥38.24 per basic share.