Kyocera Says April-June Sales 20 Percent Better
Than Forecast
By Keiko Kambara
Tokyo, July 18 (Bloomberg) -- Kyocera Corp., one of Japan's top three makers
of electronic components, said its earnings during the April-June period were
better than expectations, thanks to brisk sales of parts used in mobile phones
and other electronic products.
Sales during the quarter were about 20 percent higher than expected based on
the first-half forecast in May, said Akihiko Toyotani, a Kyocera investor
relations official, who declined to give exact figures. Based on an
April-September forecast of 510 billion yen ($4.7 billion), 20 percent more than
half of that is about 306 billion yen for the quarter, according to Bloomberg
calculations. The ratio of pretax profit to sales grew to 15 percent during the
quarter from an earlier projection of 10 percent, he said.
Toyotani said Kyocera couldn't confirm an unsourced Nihon Keizai newspaper
report that net income is likely to reach 90 billion yen, up from the company's
May forecast of 64.5 billion yen. Pretax profit is likely to climb to 180 billion
yen instead of an earlier projected 132 billion yen, and sales may reach 1.25
trillion yen instead of 1.1 trillion yen earlier forecast, the paper said.
``We normally look at our earnings figures every quarter'' to figure out if there's
any need for revisions, said Toyotani. ``And we haven't done that work yet. So
we can't be responsible for the reported figures.''
Kyocera, which bought San Diego, California-based Qualcomm Inc.'s mobile
phone-making unit in February, will review its earnings toward the end of
August, and it will report to stock exchanges if it sees earnings are certain to
surpass the forecast announced in May, he said.
Kyocera shares rose as much as 4.1 percent, or 700 yen, to 17,850. They
were most recently up 390, or 2.3 percent, to 17,540. |
