KYOCERA Announces Consolidated Financial Results for Nine Months Ended December 31, 2012 Business Wire KYOTO, Japan -- January 31, 2013 Kyocera Corporation ("Kyocera") (NYSE:KYO) (TOKYO:6971) today issued its third quarterly announcement of consolidated financial results for the fiscal year ending March 31, 2013. The results, summarized below, represent the nine months ended December 31, 2012 ("the period"). Complete details are available at: http://global.kyocera.com/ir/financial/f_results.html Consolidated Financial Highlights: Nine Months Ended December 31 Unit: Millions (except percentages and per-share amounts) Nine Months Ended December 31 2011 2012 Increase 2012 2012 (FY12) (FY13) (Decrease) (FY13) (FY13) in JPY in JPY Amount % in USD in EUR in JPY Net sales: 885,389 926,524 41,135 4.6 10,650 8,057 Profit from 88,373 51,234 (37,139) (42.0) 589 446 operations: Income before 102,604 68,882 (33,722) (32.9) 792 599 income taxes: Net income attributable to 72,110 44,970 (27,140) (37.6) 517 391 shareholders of Kyocera Corporation: Diluted earnings per share attributable 393.07 245.15 - - 2.82 2.13 to shareholders of Kyocera Corporation: Note: As a convenience to the reader, U.S. dollar (USD) and euro (EUR) conversions are provided at the rates of USD1 = JPY87 and EUR1 = JPY115, rounded to the nearest unit. Summary Despite continued harsh conditions in the overall business environment, Kyocera recorded increased sales in its semiconductor components and applied ceramic products segments during the period, as compared with the nine months ended December 31, 2011 ("the previous period"). In addition, new wholly-owned subsidiaries acquired during the fourth quarter of the year ended March 31, 2012 contributed to Kyocera's net sales throughout the period. However, profit decreased as compared with the previous period, due primarily to a JPY21,300 ^ (USD266) million charge^1 recorded at AVX Corporation, a U.S.-based subsidiary, for environmental remediation in New Bedford Harbor, Massachusetts (U.S.A.), coupled with price erosion in the electronic components market and the impact of currency fluctuations. As a result, compared with the previous period, consolidated net sales increased by 4.6%, to JPY926,524 (USD10,650) million; while profit from operations decreased by 42.0%, to JPY51,234 (USD589) million; income before income taxes decreased 32.9%, to JPY68,882 (USD792) million; and net income attributable to shareholders of Kyocera Corporation decreased by 37.6%, to JPY44,970 (USD517) million. Consolidated Financial Highlights: Third Quarter Comparison Unit: Millions (except percentages) Three Months Ended December 31 2011 2012 Increase 2012 2012 (FY12-Q3) (FY13-Q3) (Decrease) (FY13-Q3) (FY13-Q3) in JPY in JPY Amount % in USD in EUR in JPY Net sales: 281,121 318,093 36,972 13.2 3,656 2,766 Profit from 20,610 25,343 4,733 23.0 291 220 operations: Income before 27,039 33,150 6,111 22.6 381 288 income taxes: Net income attributable to 25,342 19,599 (5,743) (22.7) 225 170 shareholders of Kyocera Corporation: Note: As a convenience to the reader, U.S. dollar (USD) and euro (EUR) conversions are provided at the rates of USD1 = JPY87 and EUR1 = JPY115, rounded to the nearest unit. Consolidated Financial Forecasts: Year Ending March 31, 2013 During the three months ended December 31, 2012 (the "third quarter," or "Q3"), demand for component products fell short of projections in consumer equipment and industrial machinery markets. In the three months ending March 31, 2013 (the "fourth quarter," or "Q4"), it is expected that, while sales in the company's solar energy business in Japan will grow significantly, general demand for components used in digital consumer electronics will be lower than expected at the time of the company's October 2012 forecast. Based on these expectations, Kyocera has revised its forecasts of consolidated financial results and average exchange rates for the year ending March 31, 2013 from the projections announced in October 2012, as shown below. Unit: Yen in millions (except percentages and exchange rates) Fiscal 2013 Forecasts Increase Announced on (Decrease) (%) to Fiscal 2012 October 31, January 31, Fiscal 2012 Results 2012 2013 Results Net sales: 1,190,870 1,320,000 1,280,000 7.5 Profit from 97,675 100,000 73,000 (25.3 ) operations: Income before income 114,893 115,000 91,500 (20.4 ) taxes: Net income attributable to shareholders 79,357 75,000 57,000 (28.2 ) of Kyocera Corporation: Average USD exchange 79 79 82 - rate: Average EUR exchange 109 101 106 - rate: ^1 The charge was converted into yen using the P&L rate of USD1 = JPY80, the average exchange rate in FY13-Q1, rounded to the nearest unit, according to the actual amount recorded in Kyocera's FY13-Q1 consolidated results. FORWARD-LOOKING STATEMENTS Except for historical information contained herein, the matters set forth in this press release are forward-looking statements that involve risks and uncertainties including, but not limited to, product demand, competition, regulatory approvals, the effect of economic conditions and technological difficulties, and other risks detailed in the Company's filings with the U.S. Securities and Exchange Commission. About KYOCERA Kyocera Corporation(NYSE:KYO)(TOKYO:6971) (http://global.kyocera.com/), the parent and global headquarters of the Kyocera Group, was founded in 1959 as a producer of fine ceramics (also known as "advanced ceramics"). By combining these engineered materials with metals and plastics, and integrating them with other technologies, Kyocera has become a leading supplier of solar power generating systems, telecommunications equipment, printers, copiers, electronic components, semiconductor packages, cutting tools and industrial ceramics. During the year ended March 31, 2012, the company's net sales totaled 1.19 trillion yen (approx. USD14.5 billion). The company is ranked #426 on Forbes magazine's 2012 "Global 2000" listing of the world's largest publicly traded companies. Contact: KYOCERA Corporation (Japan) Judah Reynolds, +81-(0)75-604-3416 Corporate Communications firstname.lastname@example.org Fax: +81-(0)75-604-3516
KYOCERA Announces Consolidated Financial Results for Nine Months Ended December 31, 2012
Press spacebar to pause and continue. Press esc to stop.