Yahoo Finance Nikon's (NINOY) Q3 Earnings Increase Y/Y, Guidance Tweaked
Nikon Corporation NINOY reported a net profit of ¥20.6 billion for the third quarter (ended Dec 31, 2022) compared with the year-ago profit of ¥12.6 billion.
For the third quarter, revenues rose 25.8% year over year to ¥167.7 billion.
Segment Details
The Imaging Products (41.7% of revenues) segment’s revenues rose 49.4% year over year to ¥69.9 billion in the reported quarter, owing to higher sales of Z 9 full-frame mirrorless camera and yen depreciation.
Precision Equipment’s (29.9% of revenues) revenues increased 14.9% from the year-ago quarter to ¥50.2 billion. The uptick was mainly caused by increased sales of semiconductor lithography systems, partly offset by softness in FPD lithography systems sales.
Healthcare (15.2% of revenues) revenues rose 26.2% year over year to ¥25.5 billion in the reported quarter, owing to robust customer demand in life science solutions and eye care solutions.
Components’ (7.2% of revenues) revenues decreased 13% from the year-ago quarter to ¥12.1 billion.
Industrial Metrology and Others’ (6% of revenues) revenues jumped 14.6% year over year to ¥10.2 billion.
Operating Details
In the third quarter (ending Dec 31, 2022), Nikon reported an operating profit of ¥26.2 billion compared with the year-ago quarter’s operating profit of ¥14.8 billion.
The Imaging Products segment’s operating profit was ¥19 billion compared with the operating profit of ¥6.3 billion in the year-ago quarter.
Precision Equipment’s operating profit was ¥8.4 billion compared with the operating profit of ¥5.9 billion in the year-ago quarter.
The Healthcare business’s operating profit was ¥3.6 billion compared with the operating profit of ¥1.9 billion in the year-ago quarter.
The Components’ operating profit was ¥3.5 billion compared with the operating profit of ¥6.7 billion in the year-ago quarter.
The Industrial Metrology and Others segment’s operating profit was ¥0.9 billion compared with the operating profit of ¥1.7 billion in the year-ago quarter.
Balance Sheet
As of Dec 31, 2022, cash and cash equivalents were ¥ 313.5 billion compared with ¥ 345.4 billion as of Sep 30.
Long-term bonds and borrowings were ¥104.8 billion as of Dec 31, 2022, compared with ¥107.5 billion as of Sep 30.
Guidance
For the year ending on Mar 31, 2023, revenues are projected to be ¥630 billion compared with the earlier guidance of ¥645 billion, suggesting a decline of ¥15 billion from the previous year’s reported figure.
Imaging Products’ revenues are expected to rise 29.1% year over year to ¥230 billion. Precision Equipment’s revenues are anticipated to decrease 0.6% to ¥210 billion. Healthcare revenues are expected to rise 27% to ¥93 billion.
Components’ revenues are expected to jump 29.7% year over year to ¥53 billion. Industrial Metrology and Others’ revenues are expected to increase 22.2% to ¥44 billion.
Operating profit is estimated to be ¥55 billion. Earnings for the fiscal year are projected to be ¥116.71 per share compared with the earlier forecast of ¥115.63 per share.
Zacks Rank & Other Stocks to Consider
Nikon currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader technology space are Arista Networks ANET, Jabil JBL and Bandwidth BAND. Jabil sports a Zacks Rank #1 (Strong Buy), while Arista Networks and Bandwidth carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Arista Networks 2022 earnings is pegged at $4.38 per share, rising 0.2 in the past 60 days. The long-term earnings growth rate is anticipated to be 17.5%.
Arista Networks’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 12.7%. Shares of ANET have increased 4.3% in the past year.
The Zacks Consensus Estimate for Jabil’s 2023 earnings is pegged at $8.37 per share, rising 2.3% in the past 60 days. The long-term earnings growth rate is anticipated to be 12%.
Jabil’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 8.8%. Shares of JBL have increased 32.3% in the past year.
The Zacks Consensus Estimate for Bandwidth 2022 earnings is pegged at 37 cents per share, unchanged in the past 60 days. The long-term earnings growth rate is anticipated to be 25%.
BAND's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 301.8%. Shares of the company have declined 57.7% in the past year.
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