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Fujifilm (FUJIY) Q1 Earnings & Revenues Beat, Shares Up
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Premium photographic image-product company, Fujifilm Holdings Corporation (FUJIY - Free Report) reported solid earnings for first-quarter fiscal 2018 (ended Jun 30, 2017). Share price of the stock climbed 3.2% to $38.30, following the release of better-than-expected results on Aug 14.
Inside the Headlines
Net income for the quarter came in at ¥43.8 billion ($394.3 million), soaring a whopping 263% year over year. Quarterly earnings per American Depositary Receipt (“ADR”) came in at 90 cents, surging 291.3% year over year. The bottom line also comfortably beat the Zacks Consensus Estimate of 21 cents per ADR.
Under the guidelines of the VISION 2016 plan (Apr 1, 2014-Mar 31, 2017), Fujifilm sucessfully boosted its profitability on the back of three major pillars – efficient management, expansion of international operations and launch of businesses.
Revenues
In the reported quarter, revenues improved 4.7% year over year to ¥571.5 billion ($5,143.9 million). In addition, the top line handily surpassed the Zacks Consensus Estimate of $5,118 million.
Revenues from the Imaging Solutions segment – 14.9% of the total revenue – came in at roughly ¥85.6 billion ($770.2 million). The Information Solutions segment’s revenues were ¥230.2 billion ($2,072.3 million), representing 40.2% of the total revenue, while the Document Solutions segment generated ¥257.9 billion ($2,321.6 million), accounting for 44.9% of the total revenue.
Of the total revenue, domestic revenues accounted for 40.5%, while international revenues made up the remaining 59.5%.
Fujifilm Holdings Corp. Price, Consensus and EPS Surprise
Gross margin in the fiscal first quarter remained nearly flat year over year at 40.4%. Selling, general and administrative (SG&A), and R&D expenses were ¥195.2 billion ($1,757 million) or 34.1% of the total revenue.
Balance Sheet
Fujifilm exited the fiscal first quarter with cash and cash equivalents of roughly ¥795.4 billion ($7,082.4 million), down 9.2% from the figure recorded as of Mar 31, 2017. The company’s long-term debt came in at ¥494.9 billion ($4,406.6 million), up 13.8% from the figure recorded at the end of fiscal 2017.
Cash Flow
In the first three months of fiscal 2018, Fujifilm’s net cash from operating activities totaled ¥93.4 billion ($840.5 million), while its capital expenditure summed ¥13.4 billion ($120.3 million).
Outlook
The company estimates a 5.9% year-over-year rise in revenues to ¥2,460 billion in fiscal 2018. Operating income is projected at ¥185 billion, reflecting 7.4% growth from fiscal 2017. However, net income for fiscal 2018 is estimated to be down 4.9% year over year to ¥125 billion. This will result in earnings per share of ¥285.55.
Zacks Rank & Stocks to Consider
Fujifilm currently carries a Zacks Rank #4 (Sell).
A few better-ranked stocks in the same space are listed below:
ACI Worldwide, Inc. (ACIW - Free Report) presently carries a Zacks Rank #2 (Buy) and generated an average positive earnings surprise of 31.25% over the trailing four quarters.
Axcelis Technologies, Inc. (ACLS - Free Report) also carries a Zacks Rank #2 and has an average positive earnings surprise of 35.04% for the past four quarters.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.
Image: Bigstock
Fujifilm (FUJIY) Q1 Earnings & Revenues Beat, Shares Up
Premium photographic image-product company, Fujifilm Holdings Corporation (FUJIY - Free Report) reported solid earnings for first-quarter fiscal 2018 (ended Jun 30, 2017). Share price of the stock climbed 3.2% to $38.30, following the release of better-than-expected results on Aug 14.
Inside the Headlines
Net income for the quarter came in at ¥43.8 billion ($394.3 million), soaring a whopping 263% year over year. Quarterly earnings per American Depositary Receipt (“ADR”) came in at 90 cents, surging 291.3% year over year. The bottom line also comfortably beat the Zacks Consensus Estimate of 21 cents per ADR.
Under the guidelines of the VISION 2016 plan (Apr 1, 2014-Mar 31, 2017), Fujifilm sucessfully boosted its profitability on the back of three major pillars – efficient management, expansion of international operations and launch of businesses.
Revenues
In the reported quarter, revenues improved 4.7% year over year to ¥571.5 billion ($5,143.9 million). In addition, the top line handily surpassed the Zacks Consensus Estimate of $5,118 million.
Revenues from the Imaging Solutions segment – 14.9% of the total revenue – came in at roughly ¥85.6 billion ($770.2 million). The Information Solutions segment’s revenues were ¥230.2 billion ($2,072.3 million), representing 40.2% of the total revenue, while the Document Solutions segment generated ¥257.9 billion ($2,321.6 million), accounting for 44.9% of the total revenue.
Of the total revenue, domestic revenues accounted for 40.5%, while international revenues made up the remaining 59.5%.
Fujifilm Holdings Corp. Price, Consensus and EPS Surprise
Fujifilm Holdings Corp. Price, Consensus and EPS Surprise | Fujifilm Holdings Corp. Quote
Costs/Margins
Gross margin in the fiscal first quarter remained nearly flat year over year at 40.4%. Selling, general and administrative (SG&A), and R&D expenses were ¥195.2 billion ($1,757 million) or 34.1% of the total revenue.
Balance Sheet
Fujifilm exited the fiscal first quarter with cash and cash equivalents of roughly ¥795.4 billion ($7,082.4 million), down 9.2% from the figure recorded as of Mar 31, 2017. The company’s long-term debt came in at ¥494.9 billion ($4,406.6 million), up 13.8% from the figure recorded at the end of fiscal 2017.
Cash Flow
In the first three months of fiscal 2018, Fujifilm’s net cash from operating activities totaled ¥93.4 billion ($840.5 million), while its capital expenditure summed ¥13.4 billion ($120.3 million).
Outlook
The company estimates a 5.9% year-over-year rise in revenues to ¥2,460 billion in fiscal 2018. Operating income is projected at ¥185 billion, reflecting 7.4% growth from fiscal 2017. However, net income for fiscal 2018 is estimated to be down 4.9% year over year to ¥125 billion. This will result in earnings per share of ¥285.55.
Zacks Rank & Stocks to Consider
Fujifilm currently carries a Zacks Rank #4 (Sell).
A few better-ranked stocks in the same space are listed below:
Applied Optoelectronics, Inc. (AAOI - Free Report) currently sports a Zacks Rank #1 (Strong Buy) and has an average positive earnings surprise of 21.04% for the last four quarters. You can see the complete list of today’s Zacks #1 Rank stocks here.
ACI Worldwide, Inc. (ACIW - Free Report) presently carries a Zacks Rank #2 (Buy) and generated an average positive earnings surprise of 31.25% over the trailing four quarters.
Axcelis Technologies, Inc. (ACLS - Free Report) also carries a Zacks Rank #2 and has an average positive earnings surprise of 35.04% for the past four quarters.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>