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Oki Electric Cable Co Ltd Expects Extraordinary Loss and Lowers Full-year Consolidated Outlook for FY 2013; Cancels Year-end Dividend Payment for FY 2013


Tuesday, 26 Feb 2013 03:00am EST 

Oki Electric Cable Co Ltd announced that it expects the extraordinary loss of JPY 48 million caused by settlement payment for cancellation of contract, for the fiscal year ending March 31, 2013. The Company also has lowered its full-year consolidated outlook for revenue from JPY 10,050 million to JPY 9,600 million, operating profit (loss) from JPY 130 million to JPY (35 million), ordinary profit from JPY 110 million to JPY 30 million, net profit (loss) from JPY 80 million to JPY (50 million), and earnings (loss) per share from JPY 2.15 to JPY (1.34), for the fiscal year ending March 31, 2013. The Company lowered its full-year consolidated outlook mainly due to the decrease in demands for electrical wires and cables as well as the extraordinary loss caused by settlement payment for cancellation of contract. The Company also has canceled its year-end dividend payment, which was announced as an undetermined value, for the same fiscal year. 

Company Quote

308.0
2.0 +0.65%
18 Dec 2014