Hoya Reports Fourth Quarter Financial Results and Record Full-Year
HOYA announced on May 10 financial results for the fourth quarter and full-year ended March 31, 2018.
During the quarter, sales for the HOYA Group increased 7.6% year on year, reaching 135,923 million yen ($1,631 million CAD). Profit growth stemming from higher revenues, productivity improvements, expense reductions, and other measures resulted in quarterly profit before tax of 26,150 million yen ($313 million), a year-on-year increase of 7.1%.
During the quarter, sales of eyeglass lenses and contact lenses in the Life Care segment rose year on year, as did sales of intraocular lenses for cataracts. The combined performance of these products drove the Life Care segment sales higher for the period.
For the fiscal year ended March 31, 2018, revenues totaled 535,612 million yen ($6,427 million), up 11.8% year on year.
“I am encouraged with the growing demands in the Information Technology segment,” said Hiroshi Suzuki, chief executive officer of HOYA. “For 2018 we are also expecting to achieve 20% profit margin from ordinary operating activities in the Life Care segment.”
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