TOKYO, Japan, August 11 /PRNewswire/ -- HOYA Corporation today announced financial results for the first quarter ended June 30, 2008. Net sales were 130.1 billion yen for the quarter, representing an increase of 33.1% from 97.7 billion yen in the first quarter of 2007.
Operating income for the quarter was 21.8 billion yen, a 3.5% decrease compared with 22.6 billion yen in the first quarter of 2007. Net income for the first quarter was 21.1 billion yen, a 24.0% increase compared with 17.0 billion yen in the first quarter of 2007, primarily due to profits on sale of NH Techno Glass stocks, HOYA's equity method affiliate. Earnings per share for the quarter were 48.97 yen compared with 39.61 yen in the first quarter of 2007.
"Shrinkage of the semiconductor market and severe price competition of optical lens business had a negative impact on our first quarter 2008," said Hiroshi Suzuki, chief executive officer of HOYA. "The market will continue to be weak, however, our business tends to be better in the second half. We will focus on endoscopic system as well as eyeglasses and contact lenses to achieve further growth."
Second Quarter 2008 Forecast
The sales of three Pentax business units have been consolidated since the third quarter 2007, however, the Company anticipates the Electro-Optics market to remain weak through the second quarter 2008.
- Net sales of 133.6 billion yen, a 32.3% increase from 100.9 billion yen in the second quarter 2007 - Operating income of 23.1 billion yen, a 13.8% decrease from 26.8 billion yen in the second quarter 2007 - Net income of 19.2 billion yen, a 8.6% decrease from 21.0 billion yen in the second quarter 2007 - Earnings per share of 44.36 yen compared to 48.64 yen in the second quarter 2007
The full quarterly report is available in "Financial Statement" page in HOYA website Investor Relations section at: http://www.hoya.co.jp/english/
*Results are preliminary and unaudited.
*The yen amounts shown therein are rounded down to the nearest 100 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 four fields of business: Electro-Optics makes mask blanks and photomasks for the semiconductor devices and LCD panels, optical lenses for digital cameras, and glass memory disks for HDDs. The Eye Care provides eyeglasses, operates retail shops for contact lenses, and makes intraocular lenses for cataract surgery. The Life Care provides endoscopic system. The Imaging produces SLR/compact digital cameras, interchangeable lenses, lens modules and microlenses. Hoya now has over 100 subsidiaries and affiliates, and employs approximately 35,000 people worldwide.
Contact Information: Akiko Maeyama / Naoji Ito, Corporate Communications, Hoya Corporation, Tel: +81-3-3952-1166 / E-mail: HOYAfirstname.lastname@example.org