The first quarter of Epson’s fiscal year 2016, ending on June 30, saw an overall decrease in revenue and profit.
The printing solutions segment suffered a significant decrease in revenue in the period, down 14.5% to JPY157.3 billion (US$1.522 billion). Within the segment, printer revenue declined 8.1% to JPY 110.0 billion (US$1.064 billion), due to foreign exchange effects. Professional Printing reported a revenue of JPY 43.7 billion (US$422.86 million) in Q1, down 6.7% compared to the same period in last year.
Printing Solutions generated a profit of JPY 12.8 billion (US$123.852 million) in Q1, down 6.3% year-over-year. Overall Business Profit in Q1 decreased JPY 10.0 billion (US$96.73 million) to JPY 6.4 billion (US$61.909 million) year-over-year.
Some other highlights include:
- Revenue in Q1 decreased 21.8% to JPY 239.0 billion (US$2.312 billion), compared to the same period in last year;
- Business profit was JPY 6.4 billion (US$61.909 million), down 10% year-over-year;
- Profit from operating activities fell 9.3% to JPY 6.9 billion (US$66.779 million);
- Profit before taxes decreased 9.6% to JPY 6.3 billion (US$60.973 million), while profit for the period declined 6.3%.
Despite the decline in revenue and profit, Seiko Epson Corporation asserted the outlook for fiscal year 2016 remains unchanged.
Additional information at: http://global.epson.com/
