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Hoya Reports Third Quarter Financial Results Under IFRS

February 5, 2014

Hoya Corp. announced financial results for the third quarter ended December 31, 2013 . The full reports are available at: http://www.hoya.com/investor/ In a release on January 31 , the Company noted that during the quarter, revenues increased 21.0 percent to 109,690 million yen , and profit before tax increased 66.7 percent to 29,499 million yen compared with the same quarter last year. Profit for the quarter was up 114.9 percent to 22,274 million yen , and profit attributable to owners of the company was up 99.7 percent to 20,633 million yen year on year. Products related to smartphones and tablet PCs in the Information Technology segment trended at solid levels, but sales declined in the products related to digital cameras. Meanwhile, revenues from eyeglass lenses grew substantially in the Life Care segment due to a recovery from the flooding in Thailand , and increase in sales resulting from the transfer of the eyeglass lenses operation from Seiko Epson Corp. in the fourth quarter of the previous year. Sales rose also because the contact lens and endoscope businesses showed healthy growth in addition to the effect of a weak yen. For the nine months ended December 31, 2013 , revenues were up 13.0 percent to 312,351 million yen and profit before tax was up 10.1 percent to 65,594 million yen year on year. Profit for the term was down 1.5 percent to 47,382 million yen , and profit attributable to owners of the company was down 4.9 percent to 45,663 million yen . Declines in profit were due mainly to temporary profits posted last year from insurance proceeds totaling 17,912 million yen related to the flooding in Thailand . Excluding the factor, profits increased in real terms. "Overall impression of the quarter was that eyeglass lenses and endoscope businesses in Life Care segment showed healthy growth, and profitability of Information Technology segment has improved," said Hiroshi Suzuki , chief executive officer of HOYA. "For the coming year, there are some new medical products in the pipeline. We predict that Life Care segment will account for 70 percent of the entire sales in the future." Hoya also announced the projected results for the fiscal year ending March 31 . Hoya forecasts revenues of 413 billion yen (up 10.9 percent compared to the previous year), profit before tax of 76 billion yen (down 16.7 percent) and profit for the term of 54 billion yen (down 25.4 percent). Excluding temporary profits posted last year from insurance proceeds totaling 32,187 million yen related to the flooding in Thailand , profits will increase in real terms. HOYA is a Japanese supplier of high-tech and healthcare products based on its optics technologies. More Information: http://www.hoya.com ((Comments on this story may be sent to newsdesk@closeupmedia.com ))


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Source: Health & Beauty Close - Up


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