OMRON Announces Adjustment to Forecast for Fiscal 2007 Interim Consolidated Financial Results
FOR IMMEDIATE RELEASEOctober 16, 2007
|Company name:||OMRON Corporation|
|President and CEO:||Hisao Sakuta|
|Stock ticker number:||6645|
|Stock exchanges:||Tokyo, Osaka, Nagoya
|Contact:||Masaki Teshigahara, General Manager
Corporate Strategic Planning Headquarters,
Strategic Planning Department
Tokyo, Japan - OMRON Corporation (TOKYO: 6645; ADR: OMRNY; ´OMRON´, ´the Group´) has today announced an adjustment to its forecast for interim consolidated financial results for the fiscal year ending March 31, 2008. This is a discretionary announcement in line with OMRON´s internal disclosure policy1. The revised outlook amends the previous forecast announced on April 26, 2007. Details of the revision are outlined below. The consolidated forecast for the full year is currently being calculated and an announcement will be made together with the disclosure of the Group´s fiscal 2007 interim results on October 30, 2007.
- Adjustment to FY07 Interim Consolidated Financial Results Forecast (April 1, 2007 - September 30, 2007)
(Units: millions of yen)
Net Sales Operating
Net income Previous forecast
(announced on April 26,
375,000 30,000 29,000 20,000 Revised forecast (B) 366,500 26,500 27,000 18,500 Difference (B-A) (8,500) (3,500) (2,000) (1,500) Difference (percentage) (2.3%) (11.7%) (6.9%) (7.5%) FY06 interim results2 324,100 23,300 29,100 14,800 Percentage difference v.
FY06 interim results
13.1% 13.7% (7.2%) 25.0%
- Reasons for the Adjustment to FY07 Interim Consolidated Financial Results Forecast
Sales in the industrial automation and electronic components segments, the OMRON Group's core businesses, are expected to fall short of the forecasts announced on April 26, 2007. As a result, the Group's interim operating income is expected to fall short of the previously announced forecast by a margin that requires disclosure according to the Group's internal disclosure policy.
- OMRON's internal disclosure policy stipulates that an amendment must be announced if net sales, operating income, income before income taxes or net income will differ from forecasts by 10% or more.
- In accordance with U.S. GAAP, figures for the FY06 interim period have been reclassified in relation to operations discontinued during the first quarter of FY07.
- The figures in these financial results forecasts have been calculated based on the information currently available to management. A number of factors could cause actual results to differ materially from expectations.