Epson Registers 8.8% Growth in Printing Systems Revenue

Epson reported its financial results for the third quarter of FY 2014 (3Q2014) seeing revenues grow to ¥301.9 billion (US $2.567billion), up 6.4% year-on-year (YoY). The business profit was ¥34.5 billion (US$ 293.3 million), dropping 19.7% compared to 3Q2013.

Epson’s printing systems business registered ¥202.8 billion (US$1.72 billion in revenue, with an increase of 8.8%. According to Epson, the growth was due to yen depreciation and effects of strategy including high capacity ink tank printer growth. The revenue of inkjet printer business accounted for 77% of the company’s information equipment segment revenue while the figure for the same period last year was 75%. Inkjet printer revenue grew, as increased unit shipments of high-capacity ink tank models and higher average selling prices more than compensated for a decline in ink cartridge printer shipments. Revenue from consumables also rose owing to the effects of improvement in the composition of the install base. Foreign exchange effects also boosted revenue. Large-format printer revenue was driven up by unit growth in Asia and by foreign exchange effects, while serial impact dot matrix printer sales decreased due to sluggish demand in emerging countries in Europe.

Also, the report stated that during the first three quarters (April 1 to December 31, 2014), demand for inkjet printers remained firm in Europe but contracted in Japan compared to last year due to a delayed recovery in personal spending following the consumption tax hike. Demand also decreased slightly in North America. Demand for large-format printers decreased somewhat in Japan but was flat in Europe.

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