TOKYO—Hoya Corp. (TOKYO:7741) reported that revenues increased 11.6 percent year on year, reaching 136,759 million yen, for the third quarter ended Dec.31, 2017. During the quarter, profit growth in conjunction with higher revenues led to quarterly profit before tax of 34,683 million yen with 27,727 million yen in profit, representing increases of 6.8 percent and 10.6 percent, respectively. In the Life Care segment, sales of eyeglass lenses rose 16 percent on a currency-neutral basis in response to business acquisitions and strong sales growth in the Americas.

Sales of contact lenses increased by 4 percent, driven by ongoing new store openings. Intraocular lens sales grew 16 percent on a currency-neutral basis, mainly due to the introduction of new products. As a result, sales of the Life Care segment reported 90,113 million yen, up 14.5 percent year on year.

"I am encouraged with our steady progress in the Information Technology segment thanks to sales increase of 3.5 inch glass disk for hard disk drives," said Hiroshi Suzuki, chief executive officer of Hoya. “In the Life Care segment, we will continue to focus on the growth while securing profit.”

Hoya said the impact of mergers and acquisitions and strong sales growth in the Americas its eyeglass lens and contact lens business offset sluggish sales in Europe. The company said it plans to accelerate integration with acquired companies.

Hoya also announced the projected results for the fiscal year ending March 31, 2018. Hoya forecasts revenues of 535 billion yen, up 11.7 percent compared to the previous year; pre-tax profit of 128 billion yen, up 15.5 percent, and profit for the term of 104 billion yen, up 19.7 percent.