The OEM released its first quarter financials result for fiscal year 2021, recording a 88.9% year-on-year growth in revenues.
In the first quarter, Epson recorded revenues of ¥282.1 billion ($/ €), up 88.9% on the same period of the previous year. Operating profit for the quarter was up 19.8% at ¥24.2 billion ($/ €).
Epson said that for the office and home printing, despite ongoing supply chain issues, printer hardware sales increased especially for high-capacity ink tank printers amid strong demand for home printing. Inkjet printer ink sales were down relative to spike in Q1 last year. Epson said that it has seen sales growth for office inkjets amid shift from laser to inkjet printing.
The office and home printing segment recorded revenues of ¥137.1 billion ($/ €), up 34.7% year-on-year. However, business profit for the segment was down 2.7% year-on-year.
Epson forecasts that in the office and home printing segment, ongoing home printing demand will drive sales of high-capacity ink tank printers, ongoing supply chain issues will keep sales prices high and transportation and manufacturing costs will rise amid higher prices.
