KYOTO, Japan, Jan. 29, 2009 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced its financial results under U.S. GAAP for the period of April 1, 2008 to December 31, 2008.
The following are the highlights:
* Net sales: Down 7.8% Y/Y
* Operating income: Down 11.7% Y/Y
* Income from continuing
operations before income tax: Down 23.7% Y/Y
* Net income: Down 32.8% Y/Y
* Diluted EPS: 155.94 yen
Note: In accordance with the SFAS No.144, the optical pickup
business has been reclassified as discontinued operations.
Relevant prior-period statements have been retrospectively
restated to reflect this reclassification.
Consolidated Financial Results
Japanese yen
(millions except per share amounts)
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Nine months ended Year ended
December 31, March 31,
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2008 2007 2008
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Net sales 506,406 549,221 728,756
Y/Y change (%) (7.8%) 22.8% --
Operating income 50,816 57,537 77,542
Y/Y change (%) (11.7%) 15.8% --
Income from continuing
operations before income
taxes 41,303 54,115 64,255
Y/Y change (%) (23.7%) 5.3% --
Net income from continuing
operations 25,618 34,579 41,879
Y/Y change (%) (25.9%) -- --
*Net income from
discontinued operations (2,555) (276) (723)
Net income 23,063 34,303 41,156
Y/Y change (%) (32.8%) 14.1% --
Net income per share, primary 159.42 236.73 --
Net income per share, diluted 155.94 230.28 --
Full copy of Nidec's earnings release: http://www.nidec.co.jp/english/ir/indexdata_e/2009/0129_3.pdf
A conference call webcast (listen only, user-control slides attached) discussing Nidec's Q3FY2008 results is scheduled for 09:00 a.m. EST (14:00 p.m. GMT) on Thursday, January 29, 2009. To listen to the webcast, please visit Nidec website at: http://www.nidec.co.jp/english/ir/information/FY08Q3
About Nidec Corporation
Nidec Corporation (NYSE:NJ) (Tokyo/Osaka:6594) is a global leader in motor drive technology, with 130,000 employees and 140 group companies worldwide. For the nine months ended December 31, 2008, Small Precision Motors and Mid-size Motors represented 63.6% of Nidec's total sales; Electronic and Optical components, machinery and other products comprised the remainder. Nidec was founded in Kyoto, Japan in 1973 by Shigenobu Nagamori, its current President and CEO.
The Nidec Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=1734