Stanley Electric Reports Earnings Results for the Nine Months Ended December 31, 2013; Provides Earnings Guidance for the Fiscal Year 2014
January 29, 2014 at 03:10 pm
Share
Stanley Electric reported earnings results for the nine months ended December 31, 2013. For the year, the company has reported a 58.1% year-on-year surge in its net profit for the nine months ended December 31, 2013. Net profit for the April-December period was JPY 18.4 billion (USD 185.5 million), compared with JPY 11.6 billion during the first nine months of fiscal year 2012/13. Net sales revenue was up 28.2% year-on-year to JPY 244.3 billion from JPY 190.5 billion, while profit before taxes rose 51.4% year-on-year to JPY 29.9 billion from JPY 19.7 billion. The company announced that the Japanese automotive component industry in general benefited from sales growth during the April-December period, supported by the gradual recovery of the Japanese economy against the backdrop of a weaker yen. Furthermore, profitability was also driven by increased sales in overseas markets, including North America and China.
The company provided earnings guidance for the fiscal year 2014. For the year, the company expects net sales revenue of JPY 316 billion and net profit of JPY 24.5 billion for fiscal year 2013/14.
Stanley Electric Co Ltd is a Japan-based company mainly engaged in the manufacture and sale of automotive equipment products, component products and electronic applied products. The Company operates through three segments. The Automotive Equipment segment mainly manufactures automotive lighting products, which are sold to automobile manufacturers. The Components segment mainly manufactures electronic device products that are sold to manufacturers related to electrical machinery and automobiles. The Electronic Applied Products segment mainly manufactures electronic applied products such as units and modules that meet the specifications of customers, such as liquid crystal backlights, and operation panels that are sold mainly to electrical equipment, automobiles, and automobile-related manufacturers. In addition, the Company is also engaged in business activities such as promotion of employment of people with physical disabilities and financial and management services for groups.