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Hoya Announces Second Quarter and First Half Financial Results for FY2008
Date:11/10/2008

TOKYO, November 10 /PRNewswire-FirstCall/ -- HOYA Corporation today announced financial results for the second quarter ended September 30, 2008. Net sales were 128.3 billion yen for the quarter, representing an increase of 27.1% from 100.9 billion yen in the second quarter of 2007 mainly reflecting the additional results of PENTAX included in the scope of consolidation during the previous fiscal year.

Operating income was 20.6 billion yen, a 23.2% decrease compared with 26.8 billion yen in the second quarter of 2007, due mainly to order decrease and the drop in the product price in global economic downturn. Net income for the second quarter was 19.1 billion yen, a 9.0% decrease compared with 21.0 billion yen in the same period of 2007. Earnings per share for the quarter were 44.21 yen compared with 48.64 yen in the second quarter of 2007.

For the first six months ending September 30, 2008, net sales were 258.5 billion yen, a 30.1% growth compared with 198.7 billion yen in the same period of 2007. Operating income was 42.4 billion yen, a 14.2% decrease compared with 49.4 billion yen in the first half of 2007, while net income was 40.3 billion yen, a 5.8% increase compared with 38.1 billion yen in the same period of 2007. Earnings per share were 93.18 yen compared with 88.25 yen in the first half of 2007.

"Shrinkage of the semiconductor market and severe price competition in overall business fields continues to have a negative impact on our second quarter 2008," said Hiroshi Hamada, chief operating officer of HOYA. "The market will continue to be weak, however, we will promote expansion of our growth areas including eyeglass business, endoscopic system and contact lens retail business."

The full quarterly report is available in "Financial Statement" page in HOYA website Investor Relations section at: http://www.hoya.co.jp/english/

*Results are preliminary and unaudited
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SOURCE Hoya Corporation
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