Hoya Reports Record High Revenues in Third Quarter Results

Friday, February 9 2018 | 00 h 00 min | Financial News, News, Press Release

During the quarter, which ended December 31, 2017, HOYA Group reports that revenues increased 11.6 % year on year, reaching 136,759 million yen. Profit growth in conjunction with higher revenues led to quarterly profit before tax of 34,683 million yen (1 yen = $0.12 CAD) with 27,727 million yen ($3.3 billion CAD) in profit, representing increases of 6.8% and 10.6%, respectively.

Sales of eyeglass lenses rose 16% on a currency-neutral basis, “in response to business acquisitions and strong sales growth in the Americas.” Sales of contact lenses also increased. Intraocular lens sales grew 16% on a currency-neutral basis. Overall the Hoya Life Care segment reported up 14.5% year over year.

“In the Life Care segment, we will continue to focus on the growth while securing profit,” said Hiroshi Suzuki, chief executive officer of HOYA.

Hoya also announced the projected results for the fiscal year ending March 31, 2018. Hoya forecasts revenues of 535 billion yen (up 11.7% compared to the previous year), pre-tax profit of 128 billion yen (up 15.5%) and profit for the term of 104 billion yen (up 19.7%).

Click HERE for the full press release.