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Maruichi Steel Tube Ltd Amends Consolidated Full-year Forecast for FY 2013; Raises Year-end Dividend Forecast for FY 2013

Tuesday, 6 Nov 2012 09:20pm EST 

Maruichi Steel Tube Ltd announced that it has lowered the consolidated full-year forecast for revenue from JPY 123,300 million to JPY 118,600 million but raised the forecast for operating profit from JPY 13,500 million to JPY 14,400 million, ordinary profit from JPY 15,200 million to JPY 15,900 million, net profit from JPY 5,800 million to JPY 7,000 million and earning per share from JPY 68.30 to JPY 82.41 for the fiscal year ending March 31, 2013. The Company raised the consolidated full-year outlook for operating profit, ordinary profit and net profit due to decreased costs and lower-than-expected loss on revaluation of investment in securities. The Company has raised the year-end dividend forecast from JPY 21.50 per share to JPY 26.00 per share for the fiscal year ending March 31, 2013. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of JPY 122.61 billion and net profit of JPY 8.88 billion for the fiscal year ending March 2013. 

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