Consolidated Financial Results (Nine months) (3rd Quarter Fiscal 2007 Earnings)

Billions of yen
  3Q FY2007
(Oct. 1 to Dec. 31, 2006)
3Q FY2006
(Oct. 1 to Dec. 31, 2005)
Change
Amount %
Revenue 100.0% 716.5 100.0% 681.7 +34.8 +5.1
Pro-forma Operating Income 10.2% 73.3 6.4% 43.7 +29.6 +67.9
Structural Reform Expenses   2.6   2.0 +0.6 -
Operating Income 9.9% 70.7 6.1% 41.7 +29.0 +69.7
Income before Income Taxes 7.8% 55.6 6.8% 46.4 +9.2 +20.0
Net Income 3.4% 24.6 4.0% 27.1 (2.5) (9.2)
Capital Expenditure*   33.4   33.7 (0.3) (0.8)
Depreciation & Amortization   49.1   52.1 (3.0) (5.7)
R&D Expenses 6.0% 42.5 6.6% 44.9 (2.4) (5.5)
Exchange Rate: US$ ¥118 ¥117 +¥1
Euro ¥151 ¥139 +¥12
  • *Note:Figures do not include amounts for rental equipment handled by the Document Solutions segment.

Revenue

Consolidated revenue for the third quarter of the fiscal year ending March 31, 2007 (October 1, 2006 to December 31, 2006) rose to ¥716.5 billion, 5.1% higher than for the same quarter of the previous fiscal year. While sales of the Imaging Solutions segment declined, sales of the Information Solutions segment rose substantially. In addition, sales of the Document Solutions segment rose as sales of digital multifunction devices expanded, principally in overseas markets. Another factor contributing to growth in revenue was the weakening of the yen against the euro, compared with the previous year.

Income

The continued high prices of such principal raw materials as silver and aluminum pushed costs upward, but Fujifilm was able to absorb this rise due to the benefits of the higher sales volumes, the fixed cost reductions that have accompanied the structural reforms the Company has been implementing, the more-efficient use of expenditures, and other factors. As a result, operating income amounted to ¥70.7 billion, a major increase of 69.7% year on year.
In particular, we achieved a sharp 2.3percentage point improvement in the gross profit margin compared with the same quarter of the previous fiscal year, and improvement was also seen in the SG&A ratio and R&D expense ratios, which improved by 0.9 percentage point and 0.6percentage point, respectively.

With respect to nonoperating income and expenses, we recognized the decline in value of business-related investment securities, but we were able to boost income before income taxes to ¥55.6 billion, 20.0% above the same quarter of the previous fiscal year. Net income amounted to ¥24.6billion, 9.2% lower than for the same quarter of a year earlier.

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

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