KYOTO, Japan -- Kyocera Corporation (NYSE:KYO)(TOKYO:6971) today issued its third quarterly announcement of consolidated financial results for the fiscal year ending March 31, 2011. The results, summarized below, represent the nine months ended December 31, 2010 ("the period"). Complete details are available at: http://global.kyocera.com/ir/financial/f_results.html
Summary of Consolidated Financial Results
Despite the yen's appreciation, the period showed a favorable business environment compared to the nine months ended December 31, 2009 ("the prior period"), with increased sales in every business segment. Net sales increased 24.4% compared to the prior period, to JPY956,914 (USD11,814) million.
In addition to increased sales, efforts to enhance profitability in every business segment produced measurable results. Compared to the prior period, profit from operations increased 215.1%, to JPY119,769 (USD1,479) million; and income before income taxes increased 306.7%, to JPY133,136 (USD1,644) million, due in part to the absence of an impairment loss of JPY19,987 million on an investment in WILLCOM, Inc. As a result, net income attributable to shareholders of Kyocera Corporation increased 407.1%, to JPY93,717 (USD1,157) million.
Outlook and Future Prospects
Kyocera believes that a full-scale recovery in demand for components used in digital consumer equipment will require more time — although strong demand for solar modules is expected to continue during the three months ending March 31, 2011 ("FY11-Q4"). After assessing these circumstances, the company has made no further revision to the upwardly revised forecasts of consolidated financial results announced on October 28, 2010.
Kyocera Corp. (NYSE: KYO)