Hoya Reports Third Quarter Financial Results
Wednesday, February 6 2019 | 15 h 13 min | Financial News, Press Release
HOYA Corporation announced its financial results for the third quarter ended December 31, 2018. During the quarter, revenue increased 4.9% year on year, reaching 143,425 million yen. Profit before tax amounted to 39,676 million yen with 33,143 million yen in net profit, representing year-on-year increases of 14.4% and 19.5%, respectively. Profit before tax ratio was 27.7%, representing a year-on-year increase of 2.3 points.
In the Life Care segment, Eyeglass lens sales were strong in Japan. At the same time, steady sales growth in the Americas and other factors drove overseas sales increases on a local currency basis. However, the overall impact of currency exchange rates resulted in sales level with the same period in the prior fiscal year. New store openings of our Eyecity contact lens specialty stores, as well as new customer expansion efforts at existing stores, resulted in higher year-on-year sales for contact lenses.
Although performance was strong overseas as well, our capture of a major project in the prior year led to results that underperformed year on year. As a result, sales for the Life Care segment grew 4.2% year on year, reaching 93,902 million yen. Segment profit rose 12.9% year on year to 19,144 million yen.
“We are less impacted by the cyclicality of the semiconductor and datacenter market, enabling us secure growth on relevant products. Also, our Life Care Business is showing great stability,” said Hiroshi Suzuki, chief executive officer of HOYA. “This quarter is again a good example of our business portfolio system which allows us stable growth.”
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