Eyeglass Lens Sales Help Boost Hoya's 2Q Profits

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TOKYO— Hoya Corp. (Nikkei: 7441) reported that revenues from continuing operations fell 3.5 percent to 93,103 million yen in the second quarter ended Sept. 30, 2012. However, profit before tax increased 13.3 percent to 17,753 million yen.

Profit for the term from all operations was up 29.5 percent to 16,278 million yen year on year. This significant increase is due to the recording of 5,043 million yen of insurance income in the form compensation for the fixed assets and for the lost profit suffered from the Thai flooding earlier this year, according to Hoya. The company reported that revenues for its Life Care segment, which produces eyeglass lenses, contact lenses and intraocular lenses, amounted to 49,989 million yen, down 4.6 percent year on year.

For the six months ended Sept. 30, 2012, Hoya reported that revenues from continuing operations were down 2.1 percent to 185,717 million yen, and profit before tax was up 31.1 percent to 43,570 million yen. Profit for the term from all operations was up 41.3 percent to 39,475 million yen year on year, and profit attributable to owners of the company was up 41.6 percent to 39,412 million yen.

"Eyeglass lenses have recovered about 85 percent of its sales before the flood in Thailand and we predict to have a 100 percent recovery by the end of this fiscal year,” said Hiroshi Suzuki, chief executive officer of Hoya. “Medical endoscopes are growing in Middle East and Asia. We are focusing on developing products that can differentiate us from competitors,” he said.