Fujifilm Holdings Corporation
) reported net income of ¥21.5 billion ($217.1 million) for the
second quarter of fiscal 2014 (ended Sep 30, 2013), up 89.8% year
over year, in terms of local currency. The hike in earnings was a
result of increase in both revenues and margins.
: Revenues in the reported quarter improved 11.5% year over year
to ¥605.5 billion ($6,123.9 million). The year-over-year rise in
revenues was attributable to strong sales in the medical systems
business, pharmaceutical business, documents business and
favorable effects of the yen depreciation. However, revenue
growth was partially offset by decline in the demand for compact
Revenues from the
segment came in at ¥90.4 billion ($913.8 million) and accounted
for 14.9% of total revenue. The
segment contributed ¥230.5 billion ($2,330.9 million) or 38.1% of
total revenue and the
segment generated ¥284.7 billion ($2,879.3 million) or 47.0% of
Of the total revenue, domestic revenues accounted for 42.2%
while international revenues contributed the remaining 57.8%.
: Gross margin in the fiscal second-quarter stood at 37.4%,
declining 100 basis points (bps) from the year-ago quarter.
Selling, general and administrative (SG&A) and research and
development (R&D) expenses, together accounted for ¥194.0
billion ($1,962.0 million), representing 32.1% of the total
:Cash and cash equivalents at the end of the period was ¥514.9
billion ($5,242.2 million) registering an increase of 2.8% from
the previous quarter..
The company's long-term debt stood at ¥314.5 billion ($3,202.2
million) as of Sep 30, 2013, down 1.4% as of Jun 30, 2013.
: Net cash from operating activities for fiscal second-quarter
increased to ¥37.2 billion ($375.8 million) versus ¥14.7 billion
($186.7 million) in the comparable quarter last year. Capital
expenditure for the reported quarter was ¥18.2 billion ($184.5
million), compared with ¥22.9 billion ($291.2 million) in the
second quarter of fiscal 2013.
: Fujifilm reaffirmed its guidance for fiscal 2014, based on
strong financials for the quarter. The company reiterated its
revenue guidance of ¥2,350.0 billion, representing year over year
increase of 6.1%, for the year ending Mar 31, 2014. Operating
income is expected to be ¥140.0 million, an increase of 22.7%
from fiscal 2013. Moreover, Fujifilm estimates its net
income for the coming fiscal to be ¥70.0 billion, increasing
29.0% year over year.
Other Stocks to Consider
Fujifilm currently carries a Zacks Rank #2 (Buy). Other stocks
in the industry worth considering are
Mattson Technology, Inc.
MKS Instruments, Inc.
Ultra Clean Holdings Inc.
). All of these carry a Zacks Rank #2.
1. The effective currency exchange rates used for 1 U.S.
Dollar against Japanese Yen for Income Statement and Cash Flow
Statement were ¥98.88 and ¥78.64 for quarter ended Sep 2013 and
Sep 2012, respectively.
2. The effective currency exchange rate used for 1 U.S.
Dollar against Japanese Yen for Balance Sheet was ¥99.22 for
the quarter ended Sep 2013.
FUJIFILM HLDGS (FUJIY): Free Stock Analysis
MKS INSTRUMENTS (MKSI): Free Stock Analysis
MATTSON TECH (MTSN): Free Stock Analysis
ULTRA CLEAN HLD (UCTT): Free Stock Analysis
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