On October 31, Fujifilm Holdings Corporation (FUJIY) reported its financial results for the second quarter of fiscal year 2012. During the quarter, the company reported an income of 0.4 billion ($5 million), down 98.3% from 22.5 billion ($26 million) in the prior-year quarter. The results reflected negative impact of yen appreciation.
Revenue
Revenue in the second quarter inched down 0.8% year over year to 553.3 billion ($7.1 billion) due to depressed results from the company’s three operating segments, which was affected by decreased domestic sales.
Of the total revenue, domestic revenue accounted for 45.5% while international revenue came in at 54.5%.
Revenues from the Imaging Solutions segment reached 80.7 billion ($1 billion), down 2.6% year over year. Revenue from the Information Solutions segment decreased 6.7% year over year to 217 billion ($2.8 billion) in the reported quarter. Revenues from the Document Solutions reached 256 billion ($3.3 billion), rising 5.4% year over year.
As a percentage of revenue, cost of sales in the second quarter inched up 2.3% year over year. The gross margins stood at 38.9% versus 41.2% in the year-ago quarter. SG&A and R&D expenses together accounted for 25.7% and 7.8% of total revenue, respectively. Operating margin fell from 7% in the year-ago quarter to settle at 5.4% in the second quarter of 2012.
Balance Sheet
Exiting second quarter 2012, cash, cash equivalents, and marketable securities registered a decrease of 33.1% and 6.7% respectively, compared with that of fiscal 2011, ended March 31, 2011.
Long-term debt of the company stood at 123.7 billion ($1.6 billion) exiting the second quarter ended September 30, 2011, showing increase of 3.7% compared with that of fiscal 2011, ended March 31, 2011.
Net cash provided by operating activities for six months ended September 30, 2011, decreased 43.4% year over year to 59.7 billion ($0.8 billion).
Fujifilm is a leading global producer of photographic imaging products. The company develops, manufactures, and markets traditional and digital imaging products.
