Advertisement
Singapore markets open in 4 hours 53 minutes

  • Straits Times Index

    3,065.94
    -20.48 (-0.66%)
     

  • S&P 500

    4,551.82
    +1.39 (+0.03%)
     

  • Dow

    35,426.40
    +92.93 (+0.26%)
     

  • Nasdaq

    14,252.32
    +11.29 (+0.08%)
     

  • Bitcoin USD

    38,175.80
    +1,305.50 (+3.54%)
     

  • CMC Crypto 200

    788.79
    +24.11 (+3.15%)
     

  • FTSE 100

    7,455.24
    -5.46 (-0.07%)
     

  • Gold

    2,043.30
    +30.90 (+1.54%)
     

  • Crude Oil

    76.46
    +1.60 (+2.14%)
     

  • 10-Yr Bond

    4.3380
    -0.0510 (-1.16%)
     

  • Nikkei

    33,408.39
    -39.28 (-0.12%)
     

  • Hang Seng

    17,354.14
    -170.92 (-0.98%)
     

  • FTSE Bursa Malaysia

    1,448.02
    -0.13 (-0.01%)
     

  • Jakarta Composite Index

    7,041.07
    +27.67 (+0.39%)
     

  • PSE Index

    6,309.57
    +40.07 (+0.64%)
     

Nikon's (NINOY) Q2 Earnings Decrease Y/Y, Guidance Upbeat

Zacks Equity Research
·4-min read

Nikon Corporation NINOY reported a net profit of ¥7 billion for the second quarter (ended Sep 30, 2022) compared with the year-ago profit of ¥10.6 billion.

For the second quarter, revenues rose 1.4% year over year to ¥142.7 billion.

Segment Details

The Imaging Products (37.4% of revenues) segment’s revenues rose 36% year over year to ¥53.3 billion in the reported quarter, owing to higher sales of Z 9 full-frame mirrorless camera and yen depreciation.

Precision Equipment’s (29.4% of revenues) revenues declined 37.8% from the year-ago quarter to ¥41.9 billion. The downtick was mainly caused by decreased sales of flat panel display lithography systems.

Healthcare (17.5% of revenues) revenues rose 44.8% year over year to ¥24.9 billion in the reported quarter, owing to robust customer demand in North America for biological microscopes and retinal diagnostic imaging systems and weaker yen.

Components’ (9.2% of revenues) revenues increased 45.6% from the year-ago quarter to ¥13.1 billion. The uptick was mainly caused by high sales growth in Digital Solutions and Customized Products Business.

Industrial Metrology and Others’ (6.7% of revenues) revenues jumped 20.3% year over year to ¥9.5 billion. The uptick was mainly caused by high sales growth of video measuring systems, industrial microscopes and X-ray and CT systems.

Operating Details

In the second quarter (ending Sep 30, 2022), Nikon reported an operating profit of ¥9.1 billion compared with the year-ago quarter’s operating profit of ¥12.2 billion.

The Imaging Products segment’s operating profit was ¥8.6 billion compared with the operating profit of ¥3.3 billion in the year-ago quarter.

Precision Equipment’s operating profit was ¥2.2 billion compared with the operating profit of ¥14.1 billion in the year-ago quarter.

The Healthcare business’s operating profit was ¥2.8 billion compared with the operating profit of ¥0.5 billion in the year-ago quarter.

The Components’ operating profit was ¥4.4 billion compared with the operating profit of ¥1.3 billion in the year-ago quarter.

The Industrial Metrology and Others segment’s operating profit was ¥0.9 billion against an operating loss of ¥0.6 billion in the year-ago quarter.

Balance Sheet

As of Sep 30, 2022, cash and cash equivalents were ¥ 345.4 billion compared with ¥ 367.4 billion as of Jun 30.

Long-term bonds and borrowings were ¥107.5 billion as of Sep 30, 2022, compared with ¥95.84 billion as of Jun 30.

Guidance

For the year ending on Mar 31, 2023, revenues are projected to be ¥645 billion compared with the earlier guidance of ¥625 billion, suggesting a rise of ¥105.4 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 increase 8.9% to ¥230 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 8.3% to ¥39 billion.

Operating profit is estimated to be ¥55 billion. Earnings for the fiscal year are projected to be ¥115.63 per share compared with the earlier forecast of ¥114.78 per share.

Zacks Rank & Stocks to Consider

Nikon currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the broader technology space are Arista Networks ANET, Pure Storage PSTG and Jabil JBL. Jabil and Arista Networks currently sport a Zacks Rank #1, whereas Pure Storage currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks.

The Zacks Consensus Estimate for Arista Networks 2022 earnings is pegged at $4.33 per share, up 7.2% 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 decreased 5.7% in the past year.

The Zacks Consensus Estimate for PSTG 2022 earnings is pegged at $1.18 per share, unchanged in the past 60 days. The long-term earnings growth rate is anticipated to be 35.5%.

Pure Storage’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 171.8%. Shares of PSTG have increased 4.5% in the past year.

The Zacks Consensus Estimate for Jabil’s fiscal 2023 earnings is pegged at $8.18 per share, rising 3.8 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 three of the last four quarters, the average being 9.3%. Shares of JBL have decreased 3.2% in the past year.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Jabil, Inc. (JBL) : Free Stock Analysis Report
 
Nikon Corp. (NINOY) : Free Stock Analysis Report
 
Arista Networks, Inc. (ANET) : Free Stock Analysis Report
 
Pure Storage, Inc. (PSTG) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research