Ubiteq, INC. Revises Consolidated and Non-Consolidated Earnings Forecast for the Year Ending June 30, 2015
May 28, 2015
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Ubiteq, INC. revised consolidated and non-consolidated earnings forecast for the fiscal year ending June 30, 2015. For the year, on consolidated basis, the company now expects net sales of JPY 3,230 million, operating income of JPY 50 million, ordinary income of JPY 50 million, net income of JPY 14 million or JPY 0.97 per share against net sales of JPY 3,300 million, operating income of JPY 100 million, ordinary income of JPY 100 million, net income of JPY 62 million or JPY 4.31 per share expected earlier.
For the year, on non-consolidated basis, the company now expects net sales of JPY 2,595 million, ordinary income of JPY 7 million, net loss of JPY 12 million or JPY 0.83 per share against net sales of JPY 2,570 million, ordinary income of JPY 65 million, net income of JPY 40 million or JPY 2.78 per share expected earlier. Reasons for revision: In the electronics machinery business, despite solid sales performance of products including sensor module for ATM bill validator, and telemetrics terminal, revenues generated from various solution services including teleconference solutions and energy saving solutions have been weak and are expected to miss its profit target. Regarding the telemetrics vehicle businesses due to the large amount of inquiries on the new models the company has developed since the third quarter and actual number of sales orders relating to these new models exceeding the sales budget, the company has been strengthening its production system in an attempt to capture these new sales this fiscal year. However, as many sales orders have been postponed to the next fiscal year due to tight supply of parts, the company foresees a significant shortfall in the projected profit, and has decided to revise downward the original net income forecast.
Ubiteq, INC. is a Japan-based company principally engaged in the development and provision of Internet of Things (IoT) solutions, as well as the design, manufacture and quality assurance of electronic equipment. The Company operates in three business segments. IoT segment is involved in the provision of solutions that combine hardware, software and networks such as hardware products of sensor-equipped communication terminal equipment (telematics, car-sharing in-vehicle devices, etc.), server applications, Website application development, as well as IoT platform products, IoT infrastructure construction and operation services. Contract Manufacture segment is involved in the development and production of module systems built into the automatic teller machines (ATM) and communication amusement equipment. Contract Development segment is involved in temporary staffing for contract development of embedded software and system development.