More Images
TOKYO—Hoya Corp. (TOKYO:7741) reported a decrease in revenue but an increase in profit for the third quarter ended Dec. 31, 2016.

During the quarter, revenues for the Hoya Group amounted to 122,594 million yen, down 4.0 percent compared with the same period last year. Pre-tax profit amounted to 32,475 million yen, and profit for the quarter was 25,080 million yen, up 4.2 percent and 4.4 percent, respectively.

In Hoya’s Life Care segment, sales of contact lenses and intraocular lenses were strong. In the eyeglass lenses business, sales expanded on a local currency basis, mainly in the Americas, Europe and Asia. "During the quarter, the eyeglass lenses business grew overall due partly to stabilization of [our] Asia operation," Hiroshi Suzuki, chief executive officer of Hoya, said in a statement.

However, total revenue from Hoya’s eyeglass lens and contact lens sales decreased 2 percent in third quarter versus year ago, to 58,063 million yen as a result of foreign currency fluctuations, according to Hoya. Intraocular lens sales for the period totaled 20,645, a 2 percent decrease from third quarter 2015.

For the nine months ended Dec. 31, 2016, revenues decreased 8.2 percent to 352,623 million yen and pre-tax profit was down 10.0 percent to 86,386 million yen year on year. Profit for the term was down 9.3 percent to 67,877 million yen.

Hoya also announced the projected results for the fiscal year ending March 31, 2017. Hoya forecasts revenues of 473 billion yen (down 6.5 percent compared to the previous year), pre-tax profit of 111 billion yen (down 6.8 percent) and profit for the term of 87 billion yen (down 6.8 percent).