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Net income for the quarter was ¥22.4 billion ($218.7 million), down 1.1% year over year. Quarterly earnings per American Depositary Receipt (“ADR”) was 49 cents, up 22.5% year over year.
Revenues
Revenues were down 9.6% year over year to ¥573.9 billion ($5,604.7 million).
Revenues from the Imaging Solutions segment – 13.3% of the total revenue – came in at ¥76.5 billion ($747.4 million). The Information Solutions segment contributed ¥223.8 billion ($2,185.3 million) or 39% of the total revenue, while the Document Solutions segment generated ¥273.6 billion ($2,672.1 million) or 47.7% of the total revenue.
Of the total revenue, domestic revenues accounted for 43.3%, while international revenues made up the remaining 56.7%.
Costs/Margins
Gross margin in the fiscal second quarter was 39.4%, up 20 basis points (bps) year over year. Selling, general and administrative (SG&A) and R&D expenses were ¥190.2 billion ($1,857.1 million) or 33.1% of the total revenue.
Balance Sheet
Fujifilm exited the fiscal second quarter with cash and cash equivalents of ¥650.1 billion ($6,423.5 million), up 8.2% from the figure recorded as of Mar 31, 2016. The company’s long-term debt was ¥289.8 billion ($2,863.6 million), almost flat year over year.
Cash Flow
For the fiscal second quarter, Fujifilm’s net cash from operating activities totaled ¥138 billion ($1,312.8 million), while its capital expenditure was ¥39.3 billion ($373.9 million).
Outlook
Going forward, Fujifilm intends to improve its financials through strategic innovations and business expansion. The company expects a 3.7% year-over-year downfall in revenues to ¥2400 billion in fiscal 2017. Operating income is projected at ¥192 billion, reflecting a surge of 0.4% from the fiscal 2016 level. Moreover, net income for fiscal 2017 is projected to be down 9.2% year over year to ¥112 billion. This will result in earnings per share of ¥252.51.
As of Oct 28, 2016, Fujifilm closed the trading session at $37.71 per share. The stock price declined 1.5% after the second-quarter fiscal 2017 results were out on Oct 27, 2016.
Some better-ranked stocks within the industry that warrant a look include:
Analog Devices, Inc. (ADI - Free Report) currently sports a Zacks Rank #1 and has an average positive earnings surprise of 10.22% over the trailing four quarters.
Applied Optoelectronics, Inc. (AAOI - Free Report) currently carries a Zacks Rank #2 (Buy) and has an average positive earnings surprise of 91.96% over the four trailing quarters.
Adobe Systems Inc. (ADBE - Free Report) currently carries a Zacks Rank #2 and has an average positive earnings surprise of 5.58% over the last four quarters.
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Fujifilm (FUJIY) Q2 Earnings Improve, Revenues Decline Y/Y
Premium photographic image-product company Fujifilm Holdings Corporation (FUJIY - Free Report) reported mixed results for second-quarter fiscal 2017 (ended Sep 30, 2016).
Net income for the quarter was ¥22.4 billion ($218.7 million), down 1.1% year over year. Quarterly earnings per American Depositary Receipt (“ADR”) was 49 cents, up 22.5% year over year.
Revenues
Revenues were down 9.6% year over year to ¥573.9 billion ($5,604.7 million).
Revenues from the Imaging Solutions segment – 13.3% of the total revenue – came in at ¥76.5 billion ($747.4 million). The Information Solutions segment contributed ¥223.8 billion ($2,185.3 million) or 39% of the total revenue, while the Document Solutions segment generated ¥273.6 billion ($2,672.1 million) or 47.7% of the total revenue.
Of the total revenue, domestic revenues accounted for 43.3%, while international revenues made up the remaining 56.7%.
Costs/Margins
Gross margin in the fiscal second quarter was 39.4%, up 20 basis points (bps) year over year. Selling, general and administrative (SG&A) and R&D expenses were ¥190.2 billion ($1,857.1 million) or 33.1% of the total revenue.
Balance Sheet
Fujifilm exited the fiscal second quarter with cash and cash equivalents of ¥650.1 billion ($6,423.5 million), up 8.2% from the figure recorded as of Mar 31, 2016. The company’s long-term debt was ¥289.8 billion ($2,863.6 million), almost flat year over year.
Cash Flow
For the fiscal second quarter, Fujifilm’s net cash from operating activities totaled ¥138 billion ($1,312.8 million), while its capital expenditure was ¥39.3 billion ($373.9 million).
Outlook
Going forward, Fujifilm intends to improve its financials through strategic innovations and business expansion. The company expects a 3.7% year-over-year downfall in revenues to ¥2400 billion in fiscal 2017. Operating income is projected at ¥192 billion, reflecting a surge of 0.4% from the fiscal 2016 level. Moreover, net income for fiscal 2017 is projected to be down 9.2% year over year to ¥112 billion. This will result in earnings per share of ¥252.51.
As of Oct 28, 2016, Fujifilm closed the trading session at $37.71 per share. The stock price declined 1.5% after the second-quarter fiscal 2017 results were out on Oct 27, 2016.
Fujifilm currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
FUJIFILM HLDGS Price, Consensus and EPS Surprise
FUJIFILM HLDGS Price, Consensus and EPS Surprise | FUJIFILM HLDGS Quote
Stocks to Consider
Some better-ranked stocks within the industry that warrant a look include:
Analog Devices, Inc. (ADI - Free Report) currently sports a Zacks Rank #1 and has an average positive earnings surprise of 10.22% over the trailing four quarters.
Applied Optoelectronics, Inc. (AAOI - Free Report) currently carries a Zacks Rank #2 (Buy) and has an average positive earnings surprise of 91.96% over the four trailing quarters.
Adobe Systems Inc. (ADBE - Free Report) currently carries a Zacks Rank #2 and has an average positive earnings surprise of 5.58% over the last four quarters.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>