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Aichi Steel Corp Amends Consolidated Mid-year Outlook for FY 2014; Raises Consolidated Full-year Outlook for FY 2014


Wednesday, 31 Jul 2013 01:40am EDT 

Aichi Steel Corp announced that it has lowered the consolidated mid-year outlook for revenue from JPY 117,000 million to JPY 116,000 million, but has raised the outlook for operating profit from JPY 3,000 million to JPY 4,500 million, ordinary profit from JPY 2,700 million to JPY 4,500 million, net profit from JPY 1,700 million to JPY 2,900 million, earning per share from JPY 8.65 to 14.76 for the fiscal year ending March, 2014. The Company has also raised the consolidated full-year outlook for announced that it has raised consolidated full-year outlook for revenue from JPY 238,000 million to JPY 240,000 million, operating profit from JPY 7,500 million to JPY 9,000 million, ordinary profit from JPY 7,000 million to JPY 8,600 million, net profit from JPY 4,500 million to JPY 5,500 million, earning per share from JPY 22.91 to 27.99 for the fiscal year ending March, 2014. The positive outlook is mainly due to reduction of material costs and gain on lowered exchange rate. According to I/B/E/S Estimates, analysts on average were expecting the Company to report full-year revenue of JPY 235.02 billion, operating profit of JPY 9.80 billion and net income of JPY 5.78 billion. 

Company Quote

413.0
1.0 +0.24%
8:12pm EST