TOKYO, February 5 /PRNewswire-FirstCall/ -- HOYA Corporation today announced financial results for the third quarter ended December 31, 2008. Net sales were 112.7 billion yen for the quarter, representing a decrease of 23.3% from 147.0 billion yen in the third quarter of 2007, mainly due to order decrease and the drop in the product price resulting from global economic downturn in the main business fields such as the Electro-Optics and Vision Care, as well as PENTAX that was included in the scope of consolidation during the same period of the previous year.
Operating income for the third quarter fell 39.4%, to 16.6 billion yen, and net income was down 44.2%, to 12.6 billion yen. Earnings per share for the quarter were 29.13 yen compared with 52.22 yen in the third quarter of 2007.
For the first nine months ended December 31, 2008, the company posted a 7.4% increase in net sales over the same period of 2007, to 371.2 billion yen, however, operating income fell 23.2% to 59.1 billion yen, and net income was down 12.8%, to 52.9 billion yen. Earnings per share were 122.31 yen compared with 140.48 yen in the first nine months of 2007.
"Global economic downturn continues to have a negative impact on the Electro-Optics business in this quarter," said Hiroshi Hamada, chief operating officer of HOYA. "However, our medical field is little-affected; especially our endoscopic system business under Pentax brand showed double-digit growth on a local currency bases. We will accelerate structural reforms and at the same time, pursue selective investment and strategic marketing in all fields."
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.
*The yen amounts shown therein are
|SOURCE Hoya Corporation|
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