KYOTO, Japan, Jan. 22, 2014 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced consolidated results under U.S. GAAP for the third quarter (October-December 2013) and nine months (April-December 2013) of its fiscal year ending March 31, 2014.
Highlights are as follows:
- Record nine-month sales and net income
- Nine-month sales, operating income and net income up 23.6% y/y, 43.8% y/y, and 58.9% y/y, respectively
- Three-month sales, operating income and net income up 27.9% y/y, 17-fold y/y and 18-fold y/y, respectively
- Three-month operating margin back in double digits at 10.4%
- Upward revision to the company's financial forecast and dividend target for the year ending March 31, 2014
| Consolidated Results of Operations (unaudited) | ||||||
| Yen in millions (except for per share amounts and percentages) | ||||||
|
Nine months ended December 31 |
Increase (Decrease) |
Three months ended December 31 |
Increase (Decrease) |
|||
| 2013 | 2012 | % | 2013 | 2012 | % | |
| (unaudited) | (unaudited) | |||||
| Net sales | 646,725 | 523,210 | 23.6% | 217,091 | 169,670 | 27.9% |
| Operating income | 61,866 | 43,026 | 43.8% | 22,529 | 1,303 | -- |
| Ratio of operating income to net sales | 9.6% | 8.2% | -- | 10.4% | 0.8% | -- |
| Income before income taxes | 62,525 | 37,836 | 65.3% | 24,084 | 1,259 | -- |
| Ratio of income from continuing operations before income taxes to net sales | 9.7% | 7.2% | -- | 11.1% | 0.7% | -- |
| Net income attributable to Nidec Corporation | 43,053 | 27,093 | 58.9% | 15,950 | 894 | -- |
| Ratio of net income attributable to Nidec Corporation to net sales | 6.7% | 5.2% | -- | 7.3% | 0.5% | -- |
| Net income attributable to Nidec Corporation stockholders per share-basic | 317.93 | 201.26 | -- | 115.67 | 6.60 | -- |
| Net income attributable to Nidec Corporation stockholders per share-diluted | 297.23 | 187.80 | -- | 108.47 | 6.06 | -- |
Full copy of the financial statements for Nidec's 3Q and nine months ended December 31, 2013:
http://www.nidec.com/en-Global/ir/news/2014/news0122-02/
A conference call webcast (audio-only, user-control slides attached) discussing Nidec's financial results for 3Q and nine months ended December 31, 2013 is scheduled for 09:00 a.m. EST on Wednesday, January 22, 2014. To listen to the webcast, please visit Nidec website at:
http://www.nidec.com/en-Global/ir/calendar/schedule/archive/FY13Q3/
About Nidec Corporation
Nidec Corporation (NYSE:NJ) (Tokyo:6594) is a global leader in electric motor drive technology. For the nine months ended December 31, 2013, 42.2% of its consolidated sales were represented by small precision motors; 25.7% by appliance, commercial and industrial products; 12.5% by automotive products; 8.9% by electronic and optical components; 9.8% by machinery, and 0.9% by the remaining product lines. Nidec was founded in Kyoto, Japan in 1973 by Shigenobu Nagamori, its current President and CEO.