Murata Manufacturing Co., Ltd. (MUR.F) Wednesday reported profit before tax of 62.322 billion yen for the first quarter, lower than 83.566 billion yen a year ago, primarily impacted by lower finance income as well as higher finance costs. Revenue dropped 1.3%.
Finance income declined to 5.948 billion yen from 17.709 billion yen, while finance costs increased to 5.261 billion yen from 533 million yen.
Operating profit decreased 7.2% to 61.621 billion yen from 66.375 billion yen in the prior year.
Net profit fell to 49.671 billion yen or 26.83 yen per basic share from 66.277 billion yen or 35.30 yen per basic share last year.
Revenue for the quarter decreased to 416.154 billion yen from 421.707 billion yen in the previous year.
For the six month ending September 30, the company expects net profit to decline 27.9% year-on-year to 94 billion, with basic EPS of 50.47 yen per share. Revenue is expected to decline 6.1% to 830 billion yen.
For the full year, Murata Manufacturing expects net income of 177 billion yen, down 24.3%, on revenue of 1,640 billion yen, 5.9% lower than last year.
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