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Terumo books 11% drop in fiscal Q1 profit, lowers full-year guidance

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Terumo books 11% drop in fiscal Q1 profit, lowers full-year guidance

Terumo Corp. said its profit attributable to owners of the parent for the fiscal first quarter ended June 30 was ¥47.82 per share, a decrease of 11.4% from ¥53.96 per share in the prior-year period.

Profit attributable to owners of the parent totaled ¥18.09 billion, a decline of 11.0% from ¥20.34 billion in the year-earlier period.

Revenue increased year over year to ¥143.02 billion from ¥139.31 billion.

Operating profit totaled ¥25.88 billion compared with ¥28.44 billion in the prior-year period.

In reporting its results, the Japanese medical device maker said it forecasts revenues of ¥597.00 billion for fiscal 2019, down from the previous expectation of ¥608.00 billion.

The company also forecasts ¥78.50 billion in profit attributable to owners of the parent, a decrease from the previous guidance of ¥83.50 billion.

As of Aug. 7, US$1 was equivalent to ¥111.19.