KYOTO, Japan, July 23, 2014 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced its consolidated results under U.S.GAAP for the period of April 1, 2014 through June 30, 2014.
The highlights are as follows:
- Net sales up 13.7% Y/Y to a quarterly record-high of JPY 240.2 billion.
- Operating income up 41.6% Y/Y to JPY 25.6 billion, marking five consecutive quarters of increased operating income since the structural reform in FY2012
- Upward revision to the 1H and full-year financial performance forecasts and dividend projections
-
EPS: 64.96 yen (basic)
60.93 yen (diluted)
| Selected Consolidated Results of Operations (Unaudited) | Yen in millions (except for per share amounts and percentages) | |||
|
Three months ended June 30, |
Increase (Decrease) % |
(Reference) Three months ended March 31, 2014 |
||
| 2014 | 2013 | |||
| Net sales | 240,188 | 211,276 | 13.7% | 228,384 |
| Operating income | 25,552 | 18,047 | 41.6% | 23,202 |
| Ratio of operating income to net sales | 10.6% | 8.5% | - | 10.2% |
| Income before taxes | 24,971 | 17,366 | 43.8% | 22,139 |
| Ratio of income before taxes to net sales | 10.4% | 8.2% | - | 9.7% |
| Net income attributable to Nidec Corporation | 17,917 | 13,346 | 34.2% | 13,351 |
| Ratio of net income attributable to Nidec Corporation to net sales | 7.5% | 6.3% | - | 5.8% |
| Net income attributable to shareholders per share-basic* | 64.96 | 49.73 | - | 48.41 |
| Net income attributable to shareholders per share-diluted* | 60.93 | 46.42 | - | 45.39 |
* The Company implemented a two-for-one stock split of its common stock effective April 1, 2014. The previously reported net income attributable to Nidec Corporation per share-basic and net income attributable to Nidec Corporation per share-diluted have been retroactively adjusted to reflect the stock split.
Full copy of Nidec's financial statements for the first quarter ended June 30, 2014: http://www.nidec.com/en-Global/ir/news/2014/news0723-02/
A conference call webcast (audio-only, user-control slides attached) discussing Nidec's financial results for the first quarter ended June 30, 2014 is scheduled for 09:00 a.m. EDT on Wednesday, July 23, 2014. To listen to the webcast, please visit Nidec website at: http://www.nidec.com/en-Global/ir/calendar/schedule/archive/FY14Q1/
About Nidec Corporation
Nidec Corporation (NYSE:NJ) (Tokyo:6594) is a global leader in electric motor drive technology. For the first quarter ended June 30, 2014, 37.4% of its consolidated sales were represented by small precision motors; 26.4% by appliance, commercial and industrial products; 19.5% by automotive products; 9.3% by machinery; 6.7% by electronic and optical components, and 0.7% by the remaining product lines. Nidec was founded in Kyoto, Japan in 1973 by Shigenobu Nagamori, its current President and CEO.