Brother Reports Mixed Results in Q3

Brother Reports Mixed Results in Q3

According to Brother, sales revenue increased 4.0% year-over-year to JPY184.5 billion (US$1.600 billion) in the third quarter (Q3) of the fiscal year 2021 ending March 31, 2022.

Brother claimed that the increase is mainly due to firm performance of the machinery business as well as positive special effects.

Some highlights include:

• Business segment profit dropped 25.0% year-over-year to 5 billion (US$203.84 million).
• Operating profit decreased 18.1% year-over-year to 8 billion (US$215.11 million).
• Income before Tax dropped 17.0% year-over-year to 2 billion (US$218.58 million).
• Net income turned out to be 4 billion (US$150.92 million), down 23.6% year-over-year.

By segment, Printing & Solutions sales revenue increased JPY5.7 billion (US$49.44 million) to JPY114.9 billion (US$996.62 million) in Q3, while Business segment profit decreased JPY6.5 billion (US$56.38 million) to JPY17.8 billion (US$154.39 million). Operating profit turned out to be JPY17.9 billion (US$155.26 million), JPY6.3 billion (US$54.64 million) less than that of the previous quarter from last year.

For the nine months ended December 31, 2021, Brother sales revenue turned out to be JPY535.00 billion (US$4.64 billion), up 14.4% year-over-year. Business segment profit increased 15.1% year-over-year to JPY72.9 billion (US$632.25 million). Operating profit increased 21.0% year-over-year to JPY76 billion (US$659.13 million), while net income increased 14.2% year-over-year to JPY54.3 billion (US$470.93 million). Income before tax turned out to be JPY76.8 billion (US$666.12 million), up 21.8% year-over-year.

Printing & Solutions segment sales revenue increased JPY32.9 billion (US$285.36 million) to JPY320.1 billion (US$2.78 billion) during the nine months. Within the segment, operating profit reduced JPY2.3 billion (US$19.95 million) to JPY50.6 billion (US$438.90 million), while business segment profit decreased JPY2.5 billion (US$21.69 million) to JPY50.1 billion (US$434.66 million).

Brother also revised the consolidated results forecast for the fiscal year ending March 31, 2022, as the results are likely to exceed the previously forecast levels, mainly due to positive foreign exchange effects resulting from the weakening of the yen.

Related:

• Brother Reports Strong Frist Half Year
• Brother Reports Growth in Q1
• Brother Reports Mixed Results for FY 2020
• Brother Reports Growth in Q3
• Brother Continues to Decline in Q2 and First Half

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