Hoya Announces First Quarter Financial Results

TOKYO, August 3, 2010 /PRNewswire-FirstCall/ -- HOYA Corporation today announced financial results for the first quarter ended June 30, 2010. Net sales were 105.5 billion yen for the quarter, a 11.2% increase from 94.9 billion yen in the same period last year, and operating income was 20.1 billion yen, a 116.6% increase from 9.2 billion yen in the same period last year, mainly due to order increase brought by the recovery of the market.

Net income for the first quarter was up 446.0% to 21.0 billion yen, out of which 10.3 billion yen was for the extra-ordinary gains from sales of the hard disk glass media manufacturing operation and related assets to Western Digital Corporation in June 2010. Earnings per share for the quarter were 48.74 yen compared with 8.90 yen in the same period last year.

"We continued full production of glass substrates for HDDs in the quarter under review and saw fairly nice income growth from the same period last year. And optical lens business performed well exceeding our expectation," said Hiroshi Suzuki, chief executive officer of HOYA. "Operating income from Life Care, under our new business segmentation, also expanded from the same period last year thanks to improved product mix."

For the first six months of this fiscal year ending September 30, 2010, Hoya forecasts net sales of 205.6 billion yen (up 1.9% compared to 201.8 billion yen in the same period previous year), operating income of 38.7 billion yen (up 38.2%) and net income of 32.6 billion yen (up 129.5%.)

The full quarterly report is available in "Financial Statement" page in HOYA website Investor Relations section at: http://www.hoya.co.jp/english/

*Results are preliminary and unaudited.

*The yen amounts shown therein are rounded down to the nearest 100 million.

About Hoya Corporation

Hoya Corporation is a global technology company based in Tokyo, Japan, and the leading supplier of innovative high-tech products and services based upon its advanced optics technologies. Hoya is active in two main fields of business: (1) Information Technology: providing mask blanks and photo masks for semiconductor devices and LCD panels, glass memory disks for HDDs, and SLR/compact digital cameras and optical lenses; (2) Life Care: providing eyeglasses, intraocular lenses for cataract surgery, endoscopic systems, and operating retail shops for contact lenses. Hoya now has over 100 subsidiaries and affiliates, and employs approximately 36,000 people worldwide.

SOURCE Hoya Corporation