KYOTO, Japan, Jan. 28, 2010 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced consolidated results under U.S. GAAP for the third quarter (October-December 2009) and nine months (April-December 2009) of its fiscal year ending March 31, 2010.
The following are the highlights:
- Strong profit traction driving 3Q operating income significantly beyond previous guidance to a new quarterly record.
- Small Precision Motors operating margin leaped to 21.6%, marking the 3rd consecutive quarterly record.
- Projected dividend per share: Year-end: 35 yen, Full-year: 60 yen
| Consolidated Results of Operations (unaudited) | ||||||
| Yen in millions (except for per share amounts) | ||||||
| Nine months ended December 31 | Increase (Decrease) | Three months ended December 31 | Increase (Decrease) | |||
| 2009 | 2008 | 2009 | 2008 | |||
| (unaudited) | (unaudited) | |||||
| Net sales | 421,134 | 504,078 | (16.5)% | 152,391 | 140,802 | 8.2% |
| Operating income | 51,837 | 50,878 | 1.9% | 23,516 | 10,100 | 132.8% |
| Ratio of operating income to net sales | 12.3% | 10.1% | 15.4% | 7.2% | ||
| Income from continuing operations before income taxes | 47,773 | 41,369 | 15.5% | 25,299 | (2,010) | -- |
| Ratio of income from continuing operations before income taxes to net sales | 11.3% | 8.2% | 16.6% | (1.4)% | ||
| Net income attributable to Nidec Corporation | 30,103 | 23,063 | 30.5% | 16,315 | (4,777) | -- |
| Ratio of net income attributable to Nidec Corporation to net sales | 7.1% | 4.6％ | 10.7% | (3.4)% | ||
| Net income attributable to Nidec Corporation stockholders per share-basic | 216.12 | 159.42 | 117.13 | (33.16) | ||
| Net income attributable to Nidec Corporation stockholders per share-diluted | 216.12 | 155.94 | 117.13 | (33.16) | ||
Note: Prior-period statements have been retrospectively restated to reflect the reclassification of discontinued operations in accordance with ASC205-20 (Presentation of Financial Statements-Discontinued Operations).
Full copy of the financial statements for Nidec’s third quarter and nine months ended December 31, 2009: http://www.nidec.co.jp/english/ir/lib/indexdata2/2010/Q3_3.pdf
A conference call webcast (audio-only, user-control slides attached) discussing Nidec’s financial results for the third quarter and nine months ended December 31, 2009 is scheduled for 09:00 a.m. EST on Thursday, January 28, 2010. To listen to the webcast, please visit Nidec website at: http://www.nidec.co.jp/english/ir/information/FY09Q3 ;
About Nidec Corporation
Nidec Corporation (NYSE:NJ) (Tokyo/Osaka:6594) is a global leader in electric motor drive technology. For the nine months ended December 31, 2009, small precision motors and mid-size motors represented 69.6% of the total sales; electronic and optical components, machinery and other products comprised the remainder. Nidec was founded in Kyoto, Japan in 1973 by Shigenobu Nagamori, its current President and CEO.
The Nidec Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=1734