Kyocera 9M Profit UP; Cuts FY Profit View On US Tax Expenses, Backs Sales View

(RTTNews) - Kyocera Corp. (KYO), a developer of products for the information and communications market, reported Thursday that its nine-month net income attributable to shareholders climbed 27.4 percent to 90.27 billion Japanese yen from 70.85 billion yen a year ago.

Earnings per share were 245.49 yen, higher than 192.88 yen a year ago.

Profit from operations grew 62.4 percent from last year to 108.98 billion yen.

Net sales grew 12.9 percent to 1.15 trillion yen from 1.01 trillion yen a year ago.

Looking ahead, for the year ending March 31, 2018, the company now expects attributable net income of 108 billion yen or 293.71 yen per share, up 4 percent from last year, and operating income of 135 billion yen, up 29.1 percent.

The company previously expected attributable net income to be 119 billion yen or 323.62 yen per share.

The downward revision was due to the recording of tax expenses in the third quarter primarily resulting from the tax law revisions in the United States.

Net sales for the year are still expected to be 1.56 trillion yen, up 9.6 percent from last year.