KYOTO, Japan, July 22, 2011 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced its consolidated results under U.S.GAAP for the period of April 1, 2011 through June 30, 2011.
The highlights are as follows:
- Sales up q/q and y/y, partly offsetting the impact of the earthquake-induced supply chain disruptions.
- Operating income ratio for 1Q FY2011 back to double digits at 10.7% from 9.8% for 4Q FY2010, reflecting improved profitability for the Small Precision Motors and General Motors* businesses.
- Upward revision on first-half and full-year guidance for FY2011.
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EPS: 88.20 yen (basic)
82.49 yen (diluted)
| Selected Consolidated Results of Operations | (Yen in millions, except for per share amounts and percentages) | |||
| 1Q ended June 30, |
Increase (Decrease) |
4Q ended March 31, | ||
| 2011 | 2010 | % | 2011 | |
| (unaudited) | (unaudited) | |||
| Net sales | 179,073 | 168,766 | 6.1% | 173,556 |
| Operating income | 19,222 | 27,115 | (29.1%) | 16,961 |
| Ratio of operating income to net sales | 10.7% | 16.1% | -- | 9.8% |
| Income from continuing operations before income taxes | 17,571 | 21,105 | (16.7%) | 18,205 |
| Ratio of income from continuing operations before income taxes to net sales | 9.8% | 12.5% | -- | 10.5% |
| Income from continuing operations | 13,304 | 15,713 | (15.3%) | 14,767 |
| Loss from discontinued operations | -- | (192) | -- | (2,921) |
| Net income attributable to Nidec Corporation | 12,210 | 13,783 | (11.4%) | 11,860 |
| Ratio of net income attributable to Nidec Corporation to net sales | 6.8% | 8.2% | -- | 6.8% |
| Net income attributable to shareholders per share-basic | 88.20 | 98.95 | -- | 85.42 |
| Net income attributable to shareholders per share-diluted | 82.49 | -- | -- | 79.91 |
Full copy of Nidec's financial statements for the first quarter ended June 30, 2011: http://www.nidec.co.jp/english/ir/lib/indexdata2/2012/Q1_3.pdf
A conference call webcast (audio-only, user-control slides attached) discussing Nidec's financial results for the first quarter ended June 30, 2011 is scheduled for 09:00 a.m. EDT on Friday, July 22, 2011.
To listen to the webcast, please visit Nidec's website at: http://www.nidec.co.jp/english/ir/information/FY11Q1
About Nidec Corporation
Nidec Corporation (NYSE:NJ) (Tokyo/Osaka:6594) is a global leader in the electric motor drive technology. For the three months ended June 30, 2011, "small precision motors" and "general motors" combined represented 69.6% of the company's consolidated 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