FUJIFILM Holdings Corporation (FUJIY - Free Report) reported a net income of ¥41.4 billion in the first quarter (ended Jun 30, 2022) compared with ¥57.3 billion in the year-ago quarter.
Revenues of ¥625.9 billion increased 7.4% year over year.
Segment Details
Healthcare segment revenues were ¥180.2 billion, up 3.5% from the year-ago quarter’s levels.
Within Healthcare, Medical Systems revenues rose 11.9% year over year to ¥127.7 billion. Bio CDMO revenues moved down 9.5% year over year to ¥30.6 billion. Life sciences revenues were ¥21.9 billion, down 16.5% year over year.
Materials' segment's revenues increased 16.8% to ¥175 billion. Electronic Materials, Graphic communication and other advanced materials revenues increased 32.4%, 20.8% and 5.5% on a year-over-year basis, respectively. Display Materials revenues fell 4.4% year over year.
The Business Innovation Solutions segment’s revenues were ¥188.2 billion, up 1.2% from the year-ago quarter’s figure. Office solutions revenues increased 1.1%, and Business solutions revenues moved up 1.4% on a year-over-year basis.
The Imaging Solutions segment’s revenues were ¥82.5 billion, up 13.6% from the year-ago quarter’s levels. Consumer Imaging and Professional Imaging revenues rose 20.4% and 2.5% on a year-over-year basis, respectively.
Operating Details
Selling, general and administrative expenses increased 5.1% to ¥167.2 billion. Research and development increased 1.1% to ¥37.6 billion.
Operating income fell 12% year over year to ¥49.6 billion.
Balance Sheet & Cash Flow
As of Jun 30, 2022, cash and cash equivalents were ¥538.1 billion, up from ¥486.3 billion as of Mar 31, 2022.
Total debt was ¥570.7 billion as of Jun 30, 2022, compared with ¥447.2 billion as of Mar 31, 2022
Guidance
FUJIFILM expects revenues of ¥2,700 billion for the current year, up from the earlier guidance of ¥2,650 billion, indicating growth of 6.9% year over year. Operating income is projected to be ¥250 billion, up from the earlier guidance of ¥245 billion, suggesting 8.8% year-over-year growth. Net income is expected to decline 7.7% year over year to ¥195 billion.
Zacks Rank & Stocks to Consider
Currently, FUJIFILM has a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader technology space are Cadence Design Systems (CDNS - Free Report) , Badger Meter (BMI - Free Report) and Arista Networks (ANET - Free Report) . Cadence Design Systems, Badger Meter and Arista Networks (ANET - Free Report) each sport a Zacks Rank #1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for CDNS 2022 earnings is pegged at $4.11 per share, rising 5.7% in the past 60 days. The long-term earnings growth rate is anticipated to be 17.7%.
Cadence’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 9.8%. Shares of CDNS have jumped 22.4% in the past year.
The Zacks Consensus Estimate for BMI’s 2022 earnings is pegged at $2.30 per share, up 7% in the past 60 days.
Badger Meter’s earnings beat the Zacks Consensus Estimate in three of the preceding four quarters, with the average being 12.6%. Shares of BMI have lost 5.1% of their value in the past year.
The Zacks Consensus Estimate for Arista Network’s 2022 earnings is pegged at $3.99 per share, increasing 8.4% in the past 60 days. The long-term earnings growth rate is anticipated to be 18.6%.
Arista Network’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 10.1%. Shares of ANET have increased 38.9% in the past year.
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FUJIFILM Holdings Corporation (FUJIY - Free Report) reported a net income of ¥41.4 billion in the first quarter (ended Jun 30, 2022) compared with ¥57.3 billion in the year-ago quarter.
Revenues of ¥625.9 billion increased 7.4% year over year.
Segment Details
Healthcare segment revenues were ¥180.2 billion, up 3.5% from the year-ago quarter’s levels.
Within Healthcare, Medical Systems revenues rose 11.9% year over year to ¥127.7 billion. Bio CDMO revenues moved down 9.5% year over year to ¥30.6 billion. Life sciences revenues were ¥21.9 billion, down 16.5% year over year.
Materials' segment's revenues increased 16.8% to ¥175 billion. Electronic Materials, Graphic communication and other advanced materials revenues increased 32.4%, 20.8% and 5.5% on a year-over-year basis, respectively. Display Materials revenues fell 4.4% year over year.
The Business Innovation Solutions segment’s revenues were ¥188.2 billion, up 1.2% from the year-ago quarter’s figure. Office solutions revenues increased 1.1%, and Business solutions revenues moved up 1.4% on a year-over-year basis.
The Imaging Solutions segment’s revenues were ¥82.5 billion, up 13.6% from the year-ago quarter’s levels. Consumer Imaging and Professional Imaging revenues rose 20.4% and 2.5% on a year-over-year basis, respectively.
Operating Details
Selling, general and administrative expenses increased 5.1% to ¥167.2 billion. Research and development increased 1.1% to ¥37.6 billion.
Operating income fell 12% year over year to ¥49.6 billion.
Balance Sheet & Cash Flow
As of Jun 30, 2022, cash and cash equivalents were ¥538.1 billion, up from ¥486.3 billion as of Mar 31, 2022.
Total debt was ¥570.7 billion as of Jun 30, 2022, compared with ¥447.2 billion as of Mar 31, 2022
Guidance
FUJIFILM expects revenues of ¥2,700 billion for the current year, up from the earlier guidance of ¥2,650 billion, indicating growth of 6.9% year over year. Operating income is projected to be ¥250 billion, up from the earlier guidance of ¥245 billion, suggesting 8.8% year-over-year growth. Net income is expected to decline 7.7% year over year to ¥195 billion.
Zacks Rank & Stocks to Consider
Currently, FUJIFILM has a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader technology space are Cadence Design Systems (CDNS - Free Report) , Badger Meter (BMI - Free Report) and Arista Networks (ANET - Free Report) . Cadence Design Systems, Badger Meter and Arista Networks (ANET - Free Report) each sport a Zacks Rank #1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for CDNS 2022 earnings is pegged at $4.11 per share, rising 5.7% in the past 60 days. The long-term earnings growth rate is anticipated to be 17.7%.
Cadence’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 9.8%. Shares of CDNS have jumped 22.4% in the past year.
The Zacks Consensus Estimate for BMI’s 2022 earnings is pegged at $2.30 per share, up 7% in the past 60 days.
Badger Meter’s earnings beat the Zacks Consensus Estimate in three of the preceding four quarters, with the average being 12.6%. Shares of BMI have lost 5.1% of their value in the past year.
The Zacks Consensus Estimate for Arista Network’s 2022 earnings is pegged at $3.99 per share, increasing 8.4% in the past 60 days. The long-term earnings growth rate is anticipated to be 18.6%.
Arista Network’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 10.1%. Shares of ANET have increased 38.9% in the past year.
Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry
Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in? If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.
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