The company released its third quarter results recording increased revenue year-on-year but profit decreased due to “soaring materials and logistics costs”.
Epson’s third quarter revenue was ¥296.1 billion ($2.57 billion/ €2.3 billion), an increase of ¥17.3 billion ($150 million/ €134 million) year-on-year. Business profit was down ¥3.9 billion year-on-year at ¥27.2 billion ($240 million/ €215 million) for the third quarter period.
Revenue for the office and home printing segment was ¥150.3 billion ($1.3 billion/ €1.17 billion), up ¥5.4 billion ($47 million/ €42 million) year-on-year. Epson explained that although it experienced supplies and parts shortages as well as logistics disruptions, in the office and home printing segment revenue rose.
Epson added that inkjet printers were down 8% year-on-year due to supply constraints although demand remained strong. In the period, inkjet cartridge printer and high-capacity ink tank printer sales decreased. Demand for ink stayed stable while ink cartridges revenue declined.
Revenue predictions for the full year 2021 were kept the same as previously but business profit predictions were increased to ¥85 billion ($737 million/ €660 million).
