Nikon has revealed its earnings report for the first quarter of the 2016 financial year, which ended on June 30, 2015, confirming an increase in sales and operating income.
We have recently seen that DSLR and mirrorless camera sales increased in June 2015. The yen has also been weaker and it seems like this fact has allowed Nikon to report better-than-expected financial results.
The Japan-based company has revealed its results for the first quarter of the 2016 financial year. Q1 2016 FY is placed between April 1, 2015 and June 30, 2015, and Nikon reported an increase in sales and operating income, while net income declined when compared to the same quarter a year ago.
Nikon reports sales and operating income growth in Q1 2016 FY
After a string of bad financial results, Nikon has finally had a not-so-bad quarter. The company’s latest financial results are showing a 4.8 billion yen increase in sales and 400 million yen increase in operating income when compared to the same quarter in the 2015 financial year.
The Nikon Q1 2016 FY report reveals that 2.4 billion yen rise in sales of cameras and lenses as well as a 1.6 billion yen growth in operating income.
The sales in the precision equipment and instruments increased, too, by one billion yen and 1.6 billion yen, respectively. However, operating income in the precision equipment business declined by 1.6 billion, while remaining identical in the instruments business.
Nikon Q1 2016 FY report: camera and lens sales declined
Nikon has also revealed the exact sales of digital cameras and lenses. Without further ado, the company sold 1.04 million interchangeable lens cameras between April and June 2015, 60,000 fewer units than in the same period last year.
The company also shipped 1.49 million lenses in Q1 2016 FY and 1.53 million compact cameras. Lens shipments decreased by 120,000 units, while compact camera sales declined by 250,000 units year over year.
As noticed, camera and lens shipments dropped, but both net sales and operating income increased thanks to a weaker yen, product improvement, and cost reduction.
Nikon expects trend to continue in Q2 2016 FY
In the Nikon Q1 2016 FY report, the company is stating that the second quarter of the 2016 financial year will bring improved sales when compared to the same quarter in the 2015 financial year.
On the other hand, net income will decrease in Q2. Finally, for the full 2016 FY, the Japanese manufacturer says that both sales and net income will grow, so the crisis may finally be over. Stay close to Camyx for future financial reports!