Nidec Q2 Profit Rises; Lifts FY Outlook - Quick Facts

(RTTNews) - Electric motors company Nidec Corp. (NJ) reported that its second-quarter net income attributable to the company rose 6.5% to 13.76 billion yen from the previous year's 12.92 billion yen, with earnings per share improving to 95.70 yen from 90.74 yen last year. The company raised its outlook for fiscal year ending March 31, 2014.

Net sales for the quarter increased 25.1% to 218.36 billion yen from last year's 174.52 billion yen.

For the year ending March 31, 2014, the company now expects net income attributable to the Company to be in the range of 55.00 billion yen, net income per basic share of 404.26 yen and net sales of 850.00 billion yen. Previously, the company expected net income attributable to the Company to be in the range of 53.50 billion yen, net income per basic share of 398.72 yen and net sales of 820.00 billion yen for the year.

The company raised its fiscal year outlook to reflect the increase in its sales and profits for the six-month ended September 30, 2013, which exceeded the previously announced financial guidance.

Given the positive steps forward, the company said it seeks to reward its shareholders with an interim dividend of 45 yen per share, an increase of 5 yen per share from the amount previously announced. Together with the projected year-end dividend remaining unchanged at 45 yen per share, the Company now expects to pay an annual dividend of 90 yen per share for the year ending March 31, 2014.