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Ninestar’s 2020 results and Q1 forecast

Ninestar’s 2020 results and Q1 forecast

March 17, 2021

The company reports a decrease in income, but chip sales and revenues are up over 20%.

Ninestar has released its annual results for 2020 and first quarter forecast with 2020 revenues down 15.3% and operation profits down 140.79%.  Ninestar explained that the company results were impacted by the worldwide pandemic which effected Lexmark’s hardware sales in target areas like banks, schools, government agencies and insurances etc.

For the full year 2020 Ninestar recorded a total operating income of ¥19.72 billion ($3.03 billion/ €2.55 billion), a decrease of 15.33% compared to the same period last year. Operating profit was -¥477.781 million (-$73 million/ -€62 million), a decrease of 140.79% year-on-year.

In the first quarter of 2021, compared with the same period last year, the global COVID-19 vaccination continued to accelerate. The pandemic has eased significantly, and the global printer market has shown a growth trend, and the demand for printer consumables has also seen an increase, the company explained.

In its forecast Ninestar said that in its general consumables business it saw sales growth exceeding 30% year-on-year. Apex Microelectronics’ chip sales and revenue both increased by more than 20% year-on-year.

Ninestar expects in the first quarter of 2021, the net profit attributable to shareholders of listed companies to be ¥180 million ($28 million/ €23 million) to ¥270 million ($41 million/ €35 million), an increase of 493.91% to 790.87% over the same period last year.

Categories : City News

Tags : Apex Business Financials Ninestar

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