Kyocera Corporation (NYSE:KYO)(TOKYO:6971) today announced its third-quarter financial results for the fiscal year ending March 31, 2015. The results are summarized below, both as an aggregation of Kyocera’s first three fiscal quarters (“the period,” i.e., the nine months ended Dec. 31, 2014), and as the third quarter alone (“the quarter,” i.e., the three months ended Dec. 31, 2014). Complete details are available at: http://global.kyocera.com/ir/financial/f_results.html
Summary of Nine-Month Consolidated Financial Results
With regard to the principal markets served by Kyocera Corporation and its consolidated subsidiaries (the “Kyocera Group” or “Kyocera”), smartphone shipments increased in the digital consumer equipment sector, bringing demand not only for handsets, but also for the components they require; additionally, demand for automotive electronics grew as vehicle sales expanded, particularly in China and the United States. On the other hand, Japan’s solar energy sector struggled amid the end of subsidies for new residential solar power systems and the suspension of utility-grid access applications.
Kyocera recorded its highest nine-month (Q1-Q3) consolidated revenue to date, led by increased sales in the Information Equipment Group, the Semiconductor Parts Group, and the Fine Ceramic Parts Group. Consolidated revenue for the third quarter (Q3) stood at a record high as well. Profit in the Applied Ceramic Products Group and the Telecommunications Equipment Group decreased during this nine-month period in comparison with the same period of the prior year, while profit in the Information Equipment Group, the Fine Ceramic Parts Group and the Electronic Device Group increased through sales growth and cost reductions.
In summary, consolidated net sales for the period increased 2.8%, to JPY1,101,692 (USD9,105) million, as compared with the previous period; profit from operations increased 0.6%, to JPY90,222 (USD746) million; income before income taxes increased 3.9%, to JPY114,667 (USD948) million; and net income attributable to shareholders of Kyocera Corporation increased 6.6%, to JPY73,971 (USD611) million.