KYOCERA Announces Consolidated Financial Results for Nine Months Ended December 31, 2010

Period Highlights:

  • Net Sales Increased 24.4% YoY, to JPY957 Billion
  • Operating Profit Increased 215.1% YoY, to JPY120 Billion

KYOTO, Japan--()--Kyocera Corporation (NYSE:KYO)(TOKYO:6971) today issued its third quarterly announcement of consolidated financial results for the fiscal year ending March 31, 2011. The results, summarized below, represent the nine months ended December 31, 2010 ("the period"). Complete details are available at: http://global.kyocera.com/ir/financial/f_results.html

Financial Results: Nine Months Ended December 31

Unit: Millions (except percentages and per-share amounts)

   

2009
(FY10)
in JPY

 

 

2010
(FY11)
In JPY

 

 

Increase

 

2010
(FY11)

in USD

 

2010
(FY11)
in EUR

 

Amount

in JPY

  %
Net sales 768,920 956,914 187,994 24.4 11,814 8,860
Profit from operations 38,013 119,769 81,756 215.1 1,479 1,109
Income before income taxes 32,739 133,136 100,397 306.7 1,644 1,233

Net income attributable to

shareholders of Kyocera Corporation

18,481 93,717 75,236 407.1 1,157 868

Diluted earnings per share

attributable to shareholders of
Kyocera Corporation

  100.70   510.67   -   -   6.30   4.73

Note: As a convenience to the reader, U.S. dollar (USD) and euro (EUR) conversions are based on the rates
of USD1 = JPY81 and EUR1 = JPY108, rounded to the nearest unit.

Summary of Consolidated Financial Results

Despite the yen's appreciation, the period showed a favorable business environment compared to the nine months ended December 31, 2009 ("the prior period"), with increased sales in every business segment. Net sales increased 24.4% compared to the prior period, to JPY956,914 (USD11,814) million.

In addition to increased sales, efforts to enhance profitability in every business segment produced measurable results. Compared to the prior period, profit from operations increased 215.1%, to JPY119,769 (USD1,479) million; and income before income taxes increased 306.7%, to JPY133,136 (USD1,644) million, due in part to the absence of an impairment loss of JPY19,987 million on an investment in WILLCOM, Inc. As a result, net income attributable to shareholders of Kyocera Corporation increased 407.1%, to JPY93,717 (USD1,157) million.

Outlook and Future Prospects

Kyocera believes that a full-scale recovery in demand for components used in digital consumer equipment will require more time — although strong demand for solar modules is expected to continue during the three months ending March 31, 2011 ("FY11-Q4"). After assessing these circumstances, the company has made no further revision to the upwardly revised forecasts of consolidated financial results announced on October 28, 2010.

Consolidated Forecasts: Year Ending March 31, 2011

Unit: Yen in millions (except percentages, per-share amounts and exchange rates)

Fiscal 2010
Results

   

Fiscal 2011

Forecasts

Announced on

October 28,
2010

   

Increase

% to Fiscal
2010 Results

Net sales 1,073,805 1,260,000 17.3
Profit from operations 63,860 147,000 130.2
Income before income taxes 60,798 160,000 163.2

Net income attributable to shareholders of
Kyocera Corporation

40,095 105,000 161.9

Diluted earnings per share attributable to

shareholders of Kyocera Corporation

218.47 572.15 -
Average USD exchange rate 93

85

-
Average EUR exchange rate 131

112

-

Notes:

The forecast of diluted earnings per share attributable to shareholders of Kyocera Corporation was computed based on the diluted average number of shares outstanding during the period.

FORWARD-LOOKING STATEMENTS

Except for historical information contained herein, the matters set forth in this press release are forward-looking statements that involve risks and uncertainties including, but not limited to, product demand, competition, regulatory approvals, the effect of economic conditions and technological difficulties, and other risks detailed in the Company's filings with the U.S. Securities and Exchange Commission.

About KYOCERA

Kyocera Corporation (NYSE:KYO)(TOKYO:6971) (http://global.kyocera.com/), the parent and global headquarters of the Kyocera Group, was founded in 1959 as a producer of fine ceramics (also known as "advanced ceramics"). By combining these engineered materials with metals and plastics, and integrating them with other technologies, Kyocera has become a leading supplier of solar power generating systems, telecommunications equipment, electronic components, printers, copiers, semiconductor packages, cutting tools and industrial ceramics. During the year ended March 31, 2010, the company's net sales totaled 1.07 trillion yen (approximately USD11.5 billion). The company is ranked #554 on Forbes magazine's 2010 "Global 2000" listing of the world's largest publicly traded companies.

Contacts

KYOCERA Corporation (Japan)
Corporate Communications
Judah Reynolds, +81-(0)75-604-3416
webmaster.pressgl@kyocera.jp
Fax: +81-(0)75-604-3516

Release Summary

KYOCERA Announces Consolidated Financial Results for Nine Months Ended December 31, 2010 (FY11 Q1-Q3); Net sales and operating profit both increase compared to same period of previous FY.

Contacts

KYOCERA Corporation (Japan)
Corporate Communications
Judah Reynolds, +81-(0)75-604-3416
webmaster.pressgl@kyocera.jp
Fax: +81-(0)75-604-3516