FUJIFILM Holdings Corporation ( FUJIY Quick Quote FUJIY - Free Report) reported a net income of ¥65.7 billion in the fourth quarter (ended Mar 31, 2023) compared with ¥54.1 billion in the year-ago quarter.
Revenues of ¥764.7 billion increased 15% year over year. The uptick was caused due to revenue growth in Bio CDMO, Graphic communication and Professional Imaging.
For the year ended March 2023, the company reported revenues of ¥2,859 billion, up 13.2% year over year. Net income was ¥219.4 billion compared with ¥211.2 billion in the previous year.
For the fourth quarter, Healthcare segment revenues came in at ¥284.1 billion, up 26.3% from the year-ago quarter’s levels.
Within Healthcare, Medical Systems revenues rose 14.2% year over year to ¥176.1 billion. Bio CDMO revenues moved up 66.5% to ¥69.4 billion. Life sciences revenues were ¥38.6 billion, up 32.8% year over year.
The Materials segment's revenues increased 4.1% to ¥170 billion. Electronic Materials, Graphic communication and other advanced materials revenues increased 3.6%, 11.2% and 11.7% on a year-over-year basis, respectively. Display Materials revenues fell 31% year over year.
The Business Innovation Solutions segment’s revenues were ¥224 billion, up 10.2% from the year-ago quarter’s figure. Office solutions revenues increased 10.9% and Business solutions revenues moved up 9% on a year-over-year basis.
The Imaging Solutions segment’s revenues were ¥86.6 billion, up 18.2% from the year-ago quarter’s levels. Consumer Imaging and Professional Imaging revenues rose 16.2% and 21.7% on a year-over-year basis, respectively.
In the fourth quarter, selling, general and administrative expenses increased 11.7% to ¥186.4 billion. Research and development increased 1.6% to ¥39.2 billion.
Operating income increased 62.9% year over year to ¥70.5 billion.
Balance Sheet & Cash Flow
As of Mar 31, 2023, cash and cash equivalents were ¥268.6 billion, down from ¥317.billion as of Dec 31, 2022.
Total debt was ¥376.2 billion as of Mar 31, 2023, compared with ¥477.3 billion as of Dec 31, 2022.
FUJIFILM expects revenues of ¥2,950 billion for fiscal 2023, indicating growth of 3.2% year over year. The operating income is projected to be ¥290 billion, suggesting 6.2% year-over-year growth. The net income is expected to increase 2.5% year over year to ¥225 billion.
Zacks Rank & Other Stocks to Consider
Currently, FUJIFILM has a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader technology space are
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