Hoya: 1Q 2010 financial results

Hoya Corporation announced on 3 August 2009 its financial results for the first quarter ended 30 June 2009. Net sales totalled JPY 94.9 billion for the quarter, a 27.0% drop compared to JPY 130.1 bill…

Hoya Corporation announced on 3 August 2009 its financial results for the first quarter ended 30 June 2009. Net sales totalled JPY 94.9 billion for the quarter, a 27.0% drop compared to JPY 130.1 billion for the same period in 2008, while operating income was JPY 9.2 billion, down 57.5% from JPY 21.8 billion in 2008, due mostly to decreasing orders and exchange rates. Since April 2009, however, the company has seen an increase of both net sales and operating income compared to the fourth quarter of FY 2009 ended 31 March 2009 thanks to a degree of recovery noted in orders. Net income for the first quarter dropped 81.8%, to JPY 3.8 billion, while earnings per share for the quarter were JPY 8.90 compared with JPY 48.97 in the same period last of 2008. “Net sales decreased compared to the same period last year,” said Hiroshi Hamada, chief operating officer of Hoya. “However we see a sign of turnaround in many business units such as optical glass and PENTAX camera compared to the preceding quarter.” Hoya“s forecasts for the first six months of FY 2010 ending 30 September 2009 are for net sales of JPY 195.0 billion (a decrease of 24.6% compared to JPY 258.5 billion in the same period of 2008), operating income of JPY 24.0 billion (a 43.5% drop compared to JPY 42.4 billion in 2008) and net income of JPY 13.5 billion (down 66.5% compared to 40.3 billion yen in the same period previous year.) The full quarterly report is available in “Financial Statement” page in Hoya website Investor Relations section at: http://www.hoya.co.jp/english/