KYOCERA SAYS QUARTERLY EARNINGS DROP

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KYOCERA SAYS QUARTERLY EARNINGS DROP

 user 2008-08-05 at 12:05:45 pm Views: 69
  • #20242
    http://www.americasnetwork.com/americasnetwork/Daily+News/Japans-Kyocera-says-quarterly-earnings-drop/ArticleStandard/Article/detail/533468?contextCategoryId=1715
    Japan’s Kyocera says quarterly earnings drop
    Aug
    2008 Kyocera posted a 1% drop in quarterly profit, hit by price
    declines for mobile phone parts in China and weak printer sales in the
    US, a Reuters report said.It also expects price falls of 15% in its
    mainstay capacitor business this year, but it stuck by its annual
    forecast of a small profit fall on strength in its solar cell and
    semiconductor parts operations, the Reuters report added.”Some of our
    main businesses are weakening, but orders are strong in other areas,
    such as solar,” Kyocera executive officer Masakazu Mitsuda said, quoted
    by the Reuters report.Price falls and weak sales of capacitors, used to
    store and control the flow of electricity, prompted the world’s No.1
    ceramic capacitor maker, Murata Manufacturing, to revise down its
    annual outlook, the report added.Kyocera, the world’s top maker of
    ceramic casings for chips, expects annual operating profit of 145
    billion yen (€865 million, US$1.3 billion), a decline of 4.9% from the
    previous year, but higher than a Reuters Estimates average of 138.5
    billion yen (€826 million, US$1.2 billion) from 14 analysts.In
    April-June, operating profit came to 28 billion yen, while net profit
    was 22 billion yen (€132 million, US$204 million), also down 12%, on
    sales of 331.8 billion yen, which were up 5%.Kyocera, which competes
    against Sharp, Sanyo and Germany’s Q-Cells in the solar business, said
    quarterly solar orders grew roughly 50% year-on-year driven by demand
    in Europe.