TOKYO, Japan, July 24 /PRNewswire-FirstCall/ -- Hoya Corporation today announced its consolidated results for the First Quarter ended June 30, 2006.
Financial Highlights (unaudited):
- Consolidated net sales of 92.6 billion yen, up 13.3% from 81.7 billion yen in first quarter 2005.
- Operating income of 27.2 billion yen, up 8.7% from 25.0 billion yen in first quarter 2005.
- Net income of 21.4 billion yen, up 5.4% from 20.3 billion yen.
- Net sales and net income posted historical records on quarterly basis.
- Three main businesses delivered double-digit sales growth.
Division revenues were up from first quarter 2005 for three of four divisions. Electro-Optics division was up 17.2% thanks to reinforcement of production capacity by clients, and the development of new products also generated robust demand overall.
Eye Care business contains two divisions: Vision Care and Health Care.
Vision Care division, handling eyeglass lenses, was up 12.4% due to the proactive promotion for new designed progressive lenses, high refraction lenses and other value added products in Asia-Oceania, Europe and North America. Especially a recovery of Germany market, the largest market for Vision Care in Europe supported the growth.
In Health Care Division, manufacturing contact lenses and operating retail shops, aggressive sales effort of bifocal contact lenses and other value added products at the shops expanding throughout Japan resulted 13.9% increase.
"The first quarter's results show a favourable trend," says Hiroshi Suzuki, president and CEO, HOYA Corporation. "We are encouraged by the Eye Care field's continued double-digit growth. By adeptly balancing Electro-Optics and Eye Care fields, we can stabilize the business and continue to grow."
For the first six months ending September 30, 2006, Hoya forecasts net sales of 187.0 billion yen (up 12.2% compared with the first half 2005), operating income of 54.5 billion yen (up 9.4%) and net income of 41.5 billion yen (up 6.5%).
For the full quarterly report please access "Hoya Quarterly" in Investor Relations page of HOYA website at: http://www.hoya.co.jp/english/
- Results are preliminary and unaudited.
- The yen amounts shown therein are rounded down to the nearest 10 million.
About Hoya Corporation
Hoya Corporation is a global technology company based in Tokyo, Japan, and the leading supplier of innovative and indispensable high-tech products and services based upon its advanced optics technologies. Hoya is active in three fields of business: Electro-Optics makes mask blanks and photomasks which are essential to the fabrication of semiconductor devices, optical lenses for use in digital cameras and mobile phones, and glass disks for hard disk drives. The Eye Care business comprises vision care, primarily providing eyeglasses; and the health care, which provides contact lenses and operates retail shops. Vision Care manufactures eyeglass lenses, and the Healthcare manufactures contact lenses and operates retail shops in Japan. Hoya also produces fine crystal. The company operates in 29 countries and regions, and employs approximately 30,000 people worldwide. For more information on Hoya Corporation, please visit www.hoya.co.jp/english/
Hoya Corporation does not guarantee the accuracy or completeness of the information herein. Unless otherwise stated estimates or forecasts are solely those of our company and subject to change without notice. Hoya Corporation accepts no liability whatsoever for any direct or consequential loss arising from any use of this release.