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NTN CORP Lowers Consolidated Mid-year and Full-year Outlook for FY Ending March 31, 2013; Cancels Midterm Dividend Payment Plan for FY Ending March 31, 2013


Monday, 5 Nov 2012 01:00am EST 

NTN CORP announced that it has lowered its consolidated mid-year outlook for revenue from JPY 290,000 million to JPY 266,500 million, operating profit from JPY 11,000 million to JPY 2,100 million, ordinary profit (loss) from JPY 9,000 million to JPY (1,500 million), net profit (loss) from JPY 5,000 million to JPY (1,700 million) and earning per share (loss) from JPY 9.40 to JPY (3.20) for the fiscal year ending March 31, 2013. The Company also lowered its consolidated full-year outlook for revenue from JPY 600,000 million to JPY 530,000 million, operating profit from JPY 27,000 million to JPY 7,500 million, ordinary profit from JPY 22,000 million to JPY 500 million, net profit (loss) from JPY 11,000 million to JPY (7,000 million) and earning per share (loss) from JPY 20.68 to JPY (13.16) for the same fiscal year. This is due to the decreased demands of consumer spending, the increased special expenses, as well as the recording of loss on valuation of investment securities. According to I/B/E/S Estimates, analysts on average are expecting the Company to report full-year revenue of JPY 537.59 billion and net profit (loss) of JPY (2.10 billion). The Company also resolved to cancel its midterm dividend of JPY 5.00 per share, which was announced on July 31, 2012, for the same fiscal year. 

Company Quote

433.0
-3.0 -0.69%
1:44am EDT