We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Nikon (NINOY) Q1 Earnings Down Y/Y, Outlook Upbeat
Read MoreHide Full Article
Nikon Corporation (NINOY - Free Report) reported a net profit of ¥11.8 billion for the year ended Jun 30, 2022, compared with the year-ago profit of ¥15.8 billion.
For the year ended Jun 30, 2022, revenues rose 10.1% year over year to ¥145.6 billion.
Segment Details
The Imaging Products (42% of revenues) segment’s revenues rose 22.4% year over year to ¥61.2 billion in the reported quarter, owing to higher average unit selling prices and yen depreciation partly offset by shortage of semiconductors due to supply-chain constraints.
Precision Equipment’s (28.4% of revenues) revenues declined 20.1% from the year-ago quarter to ¥41.4 billion. The downtick was mainly caused by decreased sales of flat panel display (FPD) lithography systems.
Healthcare (14.9% of revenues) revenues rose 37.3% year over year to ¥21.7 billion in the reported quarter, owing to robust demand for biological microscopes and retinal diagnostic imaging systems; and weaker yen.
Components’ (8.9% of revenues) revenues increased 67.5% from the year-ago quarter to ¥12.9 billion. The uptick was mainly caused by high sales growth of EUV-related components.
Industrial Metrology and Others’ (5.6% of revenues) revenues jumped 20.9% year over year to ¥8.1 billion. The uptick was mainly caused by high sales growth of metrology equipment.
Operating Details
In first-quarter ended Jun 30, 2022, Nikon reported an operating income of ¥15.3 billion compared with the year-ago quarter’s operating income of ¥ 19.9 billion.
The Imaging Products segment’s operating profit was ¥13.6 billion compared with the operating profit of ¥9.2 billion in the year-ago quarter.
Precision Equipment’s operating profit was ¥4 billion compared with the operating profit of ¥13.4 billion in the year-ago quarter.
The Healthcare business’ operating profit was ¥0.8 billion compared with the operating profit of ¥0.4 billion in the year-ago quarter.
The Components’ operating profit was ¥5.4 billion compared with the operating profit of ¥2.1 billion in the year-ago quarter.
The Industrial Metrology and Others segment’s operating profit was ¥0.6 billion against an operating loss of ¥1 billion in the year-ago quarter.
Balance Sheet
As of Jun 30, 2022, cash and cash equivalents was ¥ 367.4 billion compared with ¥ 370.3 billion as of Mar 31, 2022.
Long-term bonds and borrowings were ¥95.84 billion as of Jun 30, 2022, compared with ¥92.72 billion as of Mar 31, 2022.
Guidance
For the year ending on Mar 31, 2023, revenues are projected to be ¥625 billion compared with the earlier guidance of ¥620 billion, suggesting a rise of ¥85.4 billion from the previous year’s reported figure.
Imaging Products’ revenues are expected to rise 20.7% year over year to ¥215 billion. Precision Equipment’s revenues are anticipated to increase 13.6% to ¥240 billion. Healthcare revenues are expected to rise 9.2% to ¥80 billion.
Components’ revenues are expected to jump 29.7% year over year to ¥53 billion. Industrial Metrology and Others’ revenues are expected to increase 2.8% to ¥37 billion.
Operating profit is estimated to be ¥55 billion. Earnings for the fiscal year are projected to be ¥114.78 per share compared with the earlier forecast of ¥103.47 per share.
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 20.4% 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 3.1% of their value in the past year.
The Zacks Consensus Estimate for InterDigital’s 2022 earnings is pegged at $2.76 per share, declining 15.9% in the past 60 days. The long-term earnings growth rate is anticipated to be 15%.
InterDigital’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 141.1%. Shares of IDCC have declined 9% in the past year.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Nikon (NINOY) Q1 Earnings Down Y/Y, Outlook Upbeat
Nikon Corporation (NINOY - Free Report) reported a net profit of ¥11.8 billion for the year ended Jun 30, 2022, compared with the year-ago profit of ¥15.8 billion.
For the year ended Jun 30, 2022, revenues rose 10.1% year over year to ¥145.6 billion.
Segment Details
The Imaging Products (42% of revenues) segment’s revenues rose 22.4% year over year to ¥61.2 billion in the reported quarter, owing to higher average unit selling prices and yen depreciation partly offset by shortage of semiconductors due to supply-chain constraints.
Precision Equipment’s (28.4% of revenues) revenues declined 20.1% from the year-ago quarter to ¥41.4 billion. The downtick was mainly caused by decreased sales of flat panel display (FPD) lithography systems.
Healthcare (14.9% of revenues) revenues rose 37.3% year over year to ¥21.7 billion in the reported quarter, owing to robust demand for biological microscopes and retinal diagnostic imaging systems; and weaker yen.
Components’ (8.9% of revenues) revenues increased 67.5% from the year-ago quarter to ¥12.9 billion. The uptick was mainly caused by high sales growth of EUV-related components.
Industrial Metrology and Others’ (5.6% of revenues) revenues jumped 20.9% year over year to ¥8.1 billion. The uptick was mainly caused by high sales growth of metrology equipment.
Operating Details
In first-quarter ended Jun 30, 2022, Nikon reported an operating income of ¥15.3 billion compared with the year-ago quarter’s operating income of ¥ 19.9 billion.
The Imaging Products segment’s operating profit was ¥13.6 billion compared with the operating profit of ¥9.2 billion in the year-ago quarter.
Precision Equipment’s operating profit was ¥4 billion compared with the operating profit of ¥13.4 billion in the year-ago quarter.
The Healthcare business’ operating profit was ¥0.8 billion compared with the operating profit of ¥0.4 billion in the year-ago quarter.
The Components’ operating profit was ¥5.4 billion compared with the operating profit of ¥2.1 billion in the year-ago quarter.
The Industrial Metrology and Others segment’s operating profit was ¥0.6 billion against an operating loss of ¥1 billion in the year-ago quarter.
Balance Sheet
As of Jun 30, 2022, cash and cash equivalents was ¥ 367.4 billion compared with ¥ 370.3 billion as of Mar 31, 2022.
Long-term bonds and borrowings were ¥95.84 billion as of Jun 30, 2022, compared with ¥92.72 billion as of Mar 31, 2022.
Guidance
For the year ending on Mar 31, 2023, revenues are projected to be ¥625 billion compared with the earlier guidance of ¥620 billion, suggesting a rise of ¥85.4 billion from the previous year’s reported figure.
Imaging Products’ revenues are expected to rise 20.7% year over year to ¥215 billion. Precision Equipment’s revenues are anticipated to increase 13.6% to ¥240 billion. Healthcare revenues are expected to rise 9.2% to ¥80 billion.
Components’ revenues are expected to jump 29.7% year over year to ¥53 billion. Industrial Metrology and Others’ revenues are expected to increase 2.8% to ¥37 billion.
Operating profit is estimated to be ¥55 billion. Earnings for the fiscal year are projected to be ¥114.78 per share compared with the earlier forecast of ¥103.47 per share.
Zacks Rank & Other Stocks to Consider
Nikon currently sports a Zacks Rank #2 (Buy).
Some other top-ranked stocks from the broader technology space are Badger Meter (BMI - Free Report) , InterDigital (IDCC - Free Report) and Cadence Design Systems (CDNS - Free Report) . Cadence Design Systems and Badger Meter sport a Zacks Rank #1 (Strong Buy) whereas InterDigital carries a Zacks Rank #2.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 20.4% 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 3.1% of their value in the past year.
The Zacks Consensus Estimate for InterDigital’s 2022 earnings is pegged at $2.76 per share, declining 15.9% in the past 60 days. The long-term earnings growth rate is anticipated to be 15%.
InterDigital’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 141.1%. Shares of IDCC have declined 9% in the past year.