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Epson posts steep declines

October 30, 2019

The OEM has released its financial results for the second quarter and half year ended 30 September 2019.

In their filing issued today, 30th October, Epson reports that the total income for the period for the six months ended 30 September 2019 was ¥4.66 billion ($660.23 million/ €593.99 million), down 86.3 percent compared to the corresponding period in the previous fiscal year which was ¥33.99 billion ($4.81 billion/ €4.33 billion).

Revenue for the three months period ended 30 September was ¥516.11 billion ($7.31 billion/ €6.57 billion), 3.1 percent down on the same period of the previous year and profit was down 39.7 percent, ¥12.28 billion ($1.73 billion/ €1.56 billion).

Epson’s forecast for the fiscal year ending 31 March 2020 was amended down 6.2% to an expected total revenue of ¥1,060 billion ($150.18 billion/ €135.14 billion).

Epson was impacted by a stronger than expected yen affecting the exchange rates with the euro and emerging market currencies, Epson’s business environment was influenced by a greater than anticipated decline in the Chinese and Indian economies, and the impact of China-United States trade friction on investment and other factors in the United States and Europe.

Epson expects their high-capacity ink tank printers to achieve our initial volume target (approx. 10.2 million units) in emerging markets and developed economies such as the United States and Europe.

Epson forecasts that shareholders will receive a dividend of 62 yen per share.

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