This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Nidec Copal Revises Financial Guidance For Fiscal Year 2010

KYOTO, Japan, March 18, 2011 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced that one of its consolidated subsidiaries, Nidec Copal Corporation ("Nidec Copal") (Tokyo Stock Exchange 1 st Section: 7756), has revised its financial forecast for the year ending March 31, 2011.

The details are as follows.

1. Revised Consolidated Financial Forecast (Japanese GAAP) for the Year Ending March 31, 2011

From April 1, 2010 to March 31, 2011 (Millions of yen, except per share amounts and percentages)
  For the year ending March 31, 2011 For the year ended 
  Previous forecast  Revised forecast  Change March 31, 2010
  (Apr. 26, 2010)  (Mar. 18, 2011) Amount % (Reference)
Net sales 73,000 73,500 500 0.7 65,062
Operating income 9,000 8,500 (500) (5.6) 5,903
Recurring income   8,800 7,600 (1,200) (13.6) 5,915
Net income  4,950 2,400 (2,550) (51.5) 3,888
Earnings per share  78.75 38.18 - - 61.87

2. Reasons for Revision

Nidec Copal now expects lower full-year profits on slightly higher sales for the year ending March 31, 2011, primarily reflecting a harsh pricing environment in the compact digital camera market and the resulting cost pressures on the company's production and development operations, most notably for specialty lens units. Nidec Copal's production of specialty lens units had continued at record levels until halfway through the fiscal year 2010 and then suddenly slowed down in the third quarter as the customers started switching over to new product lines.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,804.42 -123.78 -0.69%
S&P 500 2,079.63 -9.83 -0.47%
NASDAQ 4,915.6960 -23.6310 -0.48%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs