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HOYA reports sharp rise in group net profit in April-June.

TOKYO, Aug. 3 Kyodo

HOYA Corp. reported Tuesday a group net profit of 21.03 billion yen in the April to June quarter compared with a profit of 3.85 billion yen in the same period last year as strong sales of notebook computers worldwide boosted demand for its optical components.

In the first quarter of fiscal 2011 through March, HOYA reported an operating profit of 20.14 billion yen, up 116.6 percent from the year before, on sales of 105.59 billion yen, up 11.2 percent.

The optical products maker attributed the brisk performance to stronger sales of glass substrates for hard disk drives used in notebook computers and to higher demand for digital cameras in emerging economies.

HOYA said its earnings were also helped by an extraordinary gain of 10.34 million yen from transferring its hard disk glass media manufacturing operation and related assets to Western Digital Corp.

For the half-year period through September, HOYA is expecting its net profit to rise 129.5 percent to 32.6 billion yen and operating profit to increase 38.2 percent to 38.7 billion yen on sales of 205.6 billion yen, up 1.9 percent.
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Publication:Japan Consumer Electronics Scan
Article Type:Financial report
Date:Aug 9, 2010
Words:199
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