Epson Sees 9.1% Growth in Printing Systems Revenue

Epson reported its financial results for the first quarter of FY 2014 (1Q2014) showing revenues of ¥246.2 billion ($2.429 billion USD), up 10.9% year-on-year (YoY). The business profit recorded was ¥23.5 billion (US$231.9 million), rising 143.1% compared to 1Q2013. Profit for the period grew by 835.2% YoY to ¥46.5 billion ($459.7 million USD).

Epson’s printing systems business registered ¥151.1 billion（$1.468 billion USD in revenue, with an increase of 9.1%. The revenue of inkjet printer business beat the plan. Epson claimed, “In developed economies, unit shipments were lower than forecast due to aggressive pricing by competitors, but ASPs were higher. Sales of high-capacity ink tank models and commercial printers expanded in line with expectations. Sales of consumables exceeded expectations due to improvement in the composition of the installed base. Business profit also beat expectations, primarily due to printer cost reductions, and fixed cost reductions and postponements.”

As to the outlook of its inkjet printer business for the remainder of FY2014, the firm noted, “Factored in are actions to expand sales of home and office printers in developed economies to achieve initial sales targets so as to expand sales of consumables next year and beyond.”