Sumitomo Heavy Industries, Ltd. Reports Consolidated Earnings Results for the Six Months Ended September 30, 2014; Provides Earnings Guidance for the Full Year Ending March 31, 2015
October 29, 2014
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Sumitomo Heavy Industries, Ltd. reported consolidated earnings results for the six months ended September 30, 2014. For the quarter, the company reported net sales of JPY 360,329 million compared to JPY 273,003 million a year ago. Operating income was JPY 19,946 million compared to JPY 8,370 million a year ago. Ordinary income was JPY 20,001 million compared to JPY 7,832 million a year ago. Income before income taxes was JPY 19,744 million compared to JPY 7,649 million a year ago. Net income was JPY 12,279 million compared to JPY 3,376 million a year ago. Net income per share was JPY 20.03 compared to JPY 5.50 for the same period last year. Net cash provided by operating activities was JPY 31,937 million compared to JPY 13,871 million a year ago. Payments for purchases of property, plant, and equipment was JPY 7,446 million against JPY 8,497 million for the same period last year.
For the full year ending March 31, 2015, the company expects net sales of JPY 650,000 million, operating income of JPY 42,000 million, ordinary income of JPY 38,500 million, net income of JPY 21,000,000 and projected net income per share of JPY 34.25.
Sumitomo Heavy Industries, Ltd. specializes in the design, manufacturing and marketing of industrial and construction equipment. Net sales break down by family of products as follows:
- construction equipment (29.3%): hydraulic excavators, cranes, road machinery, etc.;
- precision machinery (20.8%): molding machines by injection, electric injection molding machines, medical use cyclotrons, etc.;
- equipment for environment protection (19.8%): energy generators, industrial wastewater processing systems, air pollution control units, etc.;
- machinery components (14.4%): power transmission and control systems (gears, power inverters, geared motors, gearboxes, etc.), motors, mechanical coupling systems, etc.;
- industrial equipment (11%): handling systems, logistic equipment, gas turbines, pumps, etc.;
- ships (4%);
- other (0.7%).
Sumitomo Heavy Industries, Ltd. Reports Consolidated Earnings Results for the Six Months Ended September 30, 2014; Provides Earnings Guidance for the Full Year Ending March 31, 2015