TOKYO, Japan, July 27, 2017 - Epson released its consolidated financial highlights for the first quarter ending June 20, 2017. Revenue of ¥254.8 billion was up 6.6 percent from the year-ago period, with business profit up 159 percent to ¥16.7 billion and profit up 145 percent to ¥10.3 billion.

Epson noted that currency fluctuations had a positive effect on revenue, and that the yen remained weak relative to the U.S. dollar and Euro, somewhat inflating revenue and business profit figures. However the company noted that excluding the effects, both numbers were generally in line with the outlook.

The printing solutions segment was up to ¥165.9 billion from ¥157.3 billion year-over-year.

Specific comments in the earnings statement regarding quarterly revenue in printing solutions are as follows:

  • The printer business as a whole posted revenue growth even though unit shipments of inkjet printers decreased mainly due to consumer market softness in some developed economies and competitors’ promotions, and despite a decrease in SIDM printer unit shipments compared to the first quarter of last year, when amendments to China’s tax system generated extra demand. Driving revenue growth were high-capacity ink tank printers, which continued to see solid demand in both emerging and economically developed markets, and ink sales, which remained stable, though demand varied from market to market.
  • In June, we launched sales of high-speed linehead multifunction inkjet printers in Japan and Europe. We have made a smooth start and received acclaim from dealers, distributors, and customers that experienced using the printers.
  • These enterprise linehead printers print up to 100 pages per minute with high print quality, and they offer usability equivalent to that of a copier. We have found that an effective way to close a deal is to get potential customers to actually experience the performance, and we are therefore strengthening our marketing activities in this area.
  • Through activities like this, our dealers and distributors come to see that we are serious about enterprise printing, and we are now approaching high print volume users who were out of reach with our past product lineup.
  • The response from dealers and distributors in the U.S. and China has exceeded expectations, so we are confident in the growth potential going forward.

Epson's full-year outlook was only slightly revised, forcasting ¥1,070 billion in revenue, ¥79 billion in business profit and ¥58 billion in profit for the year. 

See the full financial report here.