TOKYO, Japan, April 28 /PRNewswire-FirstCall/ -- HOYA Corporation today announced fourth quarter net sales of 135.8 billion yen for the period ended March 31, 2008, a 36.5% increase over the same quarter of the prior year. Operating income for the quarter was 18.0 billion yen, a 26.8% decrease compared with 24.6 billion yen in the prior year period. Net income for the fourth quarter was 16.3 billion yen and earnings per share were 37.71 yen. For the same quarter of the previous year, net income was 19.0 billion yen and earnings per share were 44.11 yen.
For the fiscal year ended March 31, 2008, the company announced net sales of 481.6 billion yen, an 23.5% increase over the prior year. Operating income for the fiscal year was 95.0 billion yen, or 11.3% decrease over the prior year period. Net income for the fiscal year was 77.0 billion yen and earnings per share were 178.18 yen. For the previous fiscal year, net income and earnings per share were 83.3 billion yen and 193.50 yen.
"The result of Fiscal year 2007 fell below our expectations, largely due to the price drop of digital camera that affected our optics business," said Hiroshi Suzuki, chief executive officer of HOYA. "The beginning of the new fiscal year looks better than the same period last year. We are planning a proactive capital investment in FY2008 in order to meet the market demand. "
Business Highlights for the Fourth Quarter
Revenue growth for the quarter was driven by merger with Pentax, however, the operating income decreased by 26.8%. Electro-Optics revenue decreased by 6.4% largely due to seasonal decline of demand and negative effect on foreign exchange rate. Vision Care revenue decreased by 6.5% due to the tough competition with low-price lenses. Healthcare sector delivered 10.0% revenue growth for the quarter resulting from successful consulting sales effort and expanding sales of value-added products.
Starting this quarter, the sales of three Pentax b
|SOURCE Hoya Corporation|
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