Epson Ends First Quarter With Decline

The first quarter of Epson’s fiscal year 2016, ending on June 30, saw an overall decrease in revenue and profit. 

The printing solutions segment suffered a significant decrease in revenue in the period, down 14.5% to JPY157.3 billion (US$1.522 billion). Within the segment, printer revenue declined 8.1% to JPY 110.0 billion (US$1.064 billion), due to foreign exchange effects. Professional Printing reported a revenue of JPY 43.7 billion (US$422.86 million) in Q1, down 6.7% compared to the same period in last year.

Printing Solutions generated a profit of JPY 12.8 billion (US$123.852 million) in Q1, down 6.3% year-over-year. Overall Business Profit in Q1 decreased JPY 10.0 billion (US$96.73 million) to JPY 6.4 billion (US$61.909 million) year-over-year.

Some other highlights include:

• Revenue in Q1 decreased 21.8% to JPY 239.0 billion (US$2.312 billion), compared to the same period in last year; 
• Business profit was JPY 6.4 billion (US$61.909 million), down 10% year-over-year;
• Profit from operating activities fell 9.3% to JPY 6.9 billion (US$66.779 million);
• Profit before taxes decreased 9.6% to JPY 6.3 billion (US$60.973 million), while profit for the period declined 6.3%.

Despite the decline in revenue and profit, Seiko Epson Corporation asserted the outlook for fiscal year 2016 remains unchanged.

Additional information at: http://global.epson.com/

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