Kyocera Corporation (NYSE:KYO)(TOKYO:6971) today announced its consolidated financial results for the first quarter of fiscal year 2013 (the three months ended June 30, 2012, or "Q1"), as summarized below. Complete details are available at: http://global.kyocera.com/ir/financial/f_results.html
|Financial Results: Three Months Ended June 30|
|Unit: Millions (except percentages and per-share amounts)|
|Three months Ended June 30|
|2011(FY12-Q1)in JPY||2012(FY13-Q1)in JPY||Increase(Decrease)||2012(FY13-Q1)in USD||2012(FY13-Q1)in EUR|
|Profit (loss) from operations:||33,313||(2,002)||(35,315)||-||(25)||(20)|
|Income before income taxes:||39,922||4,727||(35,195)||(88.2)||60||48|
|Net income attributable toshareholders of KyoceraCorporation:||24,804||6,570||(18,234)||(73.5)||83||66|
|Diluted earnings per shareattributable to shareholdersof Kyocera Corporation:||135.19||35.82||-||-||0.45||0.36|
|Note: As a convenience to the reader, U.S. dollar (USD) and euro (EUR) conversions are provided based on the BS rates of USD1 = JPY79 and EUR1 = JPY99 as of June 30, 2012, rounded to the nearest unit.|
Summary of Consolidated Financial ResultsSales of components used in consumer electronics increased during Q1 as compared with the three months ended March 31, 2012; however, total Q1 revenue fell below that of the prior first quarter, ended June 30, 2011 ("the prior period") due mainly to a decline in sales of mobile phone handsets and components, despite contributions from Kyocera Unimerco A/S and Kyocera Display Corporation, which became consolidated subsidiaries of Kyocera in July 2011 and February 2012, respectively. The company's profits were also adversely affected by the yen's appreciation, coupled with a Q1 charge of JPY21,300* (USD266) million for environmental remediation at AVX Corporation, a U.S.-based subsidiary.
On a consolidated basis, Q1 net sales decreased 2.5% compared to the prior period, to JPY297,726 (USD3,769) million; a loss from operations of JPY2,002 (USD25) million was recorded due to the remediation charge at AVX Corporation; income before income taxes decreased 88.2%, to JPY4,727 (USD60) million; and net income attributable to shareholders of Kyocera Corporation decreased 73.5%, to JPY6,570 (USD83) million.
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