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Kyocera fiscal Q3 profit down 16.8%

Kyocera Corp.'s attributable net income for the third quarter of its fiscal year 2018 fell 16.8% from a year earlier, but profit for the nine-month period rose 27.4% year over year as robust demand boosted revenue from electronic devices and automotive and industrial components.

The company reported net income attributable to shareholders of ¥28.88 billion for the third quarter of its fiscal year 2018, down from ¥34.70 billion in the year-ago quarter. Net sales increased 12.5% year over year to ¥406.67 billion from ¥361.39 billion.

For the nine months ended Dec. 31, 2017, attributable net income was ¥90.27 billion, or ¥245.49 per share, up from ¥70.85 billion, or ¥192.88 per share, in the same period of the previous year. The company cited stronger sales and cost reduction measures behind significant increases in most profit metrics.

The company's net sales for the nine-month period rose 12.9% year over year to a record ¥1.145 trillion from ¥1.015 trillion in the prior-year period.

For its fiscal year 2018, the company expects net income attributable to shareholders of ¥108.00 billion, up 4.0% from fiscal year 2017 but down from the previous guidance of ¥119.00 billion. EPS is now projected to increase to ¥293.71, down from the previous guidance of ¥323.62 but up from ¥282.62 in the previous year.

As of Jan. 31, US$1 was equivalent to 109.27 Japanese yen.