Epson Revenues Grows in Q1

Epson Revenues Grows in Q1

Epson registered revenue of JPY297.8 billion (US$2.25 billion) in the first quarter of the fiscal year 2022 ending March 2023 (Q1, 2022), up 5.6% compared to the same period last year.

Some other highlights include:

• Business profit decreased 6.6% year-over-year to JPY 22.6 billion (US$170.62 million)
• Profit from operating activities reached JPY 31.2 billion (US$253.59 million), up 31.9% year-over-year
• Profit before tax was JPY 37.0 billion (US$279.39 million), up 57.8% year-over-year
• Profit for the period attributable to owners of the parent company was JPY 26.6 billion (US$200.89 million), up 52.5% year-over-year

By segment, revenue in the printing solutions segment increased 2.8% year-over-year to JPY 197.6 billion  (US$1.50 billion) in Q1, while segment profit turned out to be JPY21.0 billion (US$158.60 million), down 21.0% comparing to the same period from last year.

1. Revenue in the office and home printing business increased

High-capacity ink tank printer and ink cartridge printer unit sales decreased despite continued demand from people working and learning from home. Sales were hurt by product shortages due to lockdowns in China, logistics delays, and parts shortages. Nevertheless, printer revenue increased due to higher selling prices and the positive impact of foreign exchange rates.

Consumables revenue slightly increased because even though revenue was hurt by a decrease in ink cartridge sales owing to fewer sales of ink cartridge printers, sales of ink bottles for high-capacity ink tank printers increased.

2. Revenue in the commercial and industrial printing business was in line with the prior-year period

Large format inkjet printer revenue declined due to continued product shortages and the effects of lockdowns in China. Consumables revenue declined from the prior-year period, when there was large demand in North America. Small printer revenue decreased even though we raised selling prices in Europe and the Americas, because we continued to experience product shortages.

3. The printhead sales business saw revenue decrease mainly because of lockdowns in China, the main market.

Outlook

Epson is raising the revenue outlook from the previous financial outlook for the 2022 fiscal year ending March 31, 2023.

Related:

• Epson Reports Mixed Results for Q3
• Epson Releases Two New Label Printers
• Epson Releases Two New Supertank Color MFPs
• Epson Released New EcoTank Printers
• Epson Releases Two New Cartridge Free Premium EcoTank Models

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