Consolidated Financial Results (1st Quarter Fiscal 2006 Earnings)

Billions of yen
  1Q FY2006 1Q FY2005 Change
Amount %
Revenue Domestic 50.5% 316.0 50.5% 309.1 +6.9 +2.2
Overseas 49.5% 309.2 49.5% 302.7 +6.5 +2.2
Total 100.0% 625.2 100.0% 611.8 +13.4 +2.2
Operating Income* 5.0% 31.2 6.5% 39.9 (8.7) (21.9)
Income before Income Taxes 5.2% 32.5 6.8% 41.3 (8.8) (21.3)
Net Income 2.6% 16.0 3.5% 21.5 (5.5) (25.9)
Exchange Rate: US$ ¥108 ¥110 (¥2)
Euro ¥136 ¥132 +¥4

During the first quarter of fiscal 2006 (April 1, 2005, through June 30, 2005), Fujifilm imaging solutions segment supplying color films, digital cameras, digital minilabs, and other products and services faced harsh operating environments, but robust sales of flat panel display materials and medical imaging products by information solutions segment, the contribution of newly consolidated subsidiaries in the information solutions segment, and higher sales of digital multifunction devices and office printers by document solutions segment in overseas markets, helped boost the Company's consolidated revenue to ¥625.2 billion, a rise of 2.2 % from the same period in the previous fiscal year. Domestic sales amounted to ¥316.0 billion, up 2.2 %, while overseas revenue totaled ¥309.2 billion, up 2.2%. The Company continued working to reduce the cost of sales and operating expenses through such measures as those to improve manufacturing efficiency, lower procurement costs, and tighten the strategic focus of expenditures. However, in addition to the severe operating environment of imaging solutions operations, profitability was negatively affected by such factors as surging main raw material costs, a rise in R&D expenses designed to create new business and strengthen product development capabilities, and expenses incurred in connection with various manufacturing system reforms and other structural reform and information process reform measures. As a result, operating income was restrained to ¥31.2 billion, down 21.9%. Income before income taxes decreased 21.3%, to ¥32.5 billion, and net income declined 25.9%, to ¥16.0 billion.

The effective exchange rates for the U.S. dollar and the euro against the yen during the period were ¥108 and ¥136, respectively.

Consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America.

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