The OEM has published its financial results for Q1 of the 2019-19 financial year, ending June 30th, with its printing segment offering shoots of hope after wider losses.
OKI’s net sales fell to ¥88.9 billion ($800.5 million/€685.1 million), from ¥90.4 billion ($814 million/€696.6 million) in the equivalent period in the year before, a fall of 1.6 percent.
There was a ¥3.1 billion ($27.9 million/€23.8 million) increase in operating income, although OKI is still running at a loss of ¥800 million ($7.2 million/€6.1 million), and a ¥1.8 billion ($16.2 million/€13.8 million) rise in ordinary income, which whilst positive means that the OEM still faces a ¥1.7 billion ($15.3 million/€13.1 million) loss.
However, things were rosier in the company’s Printing segment: Net sales rose by ¥300 million ($2.7 million/€2.3 million) to hit ¥25.2 billion ($226.9 million/€194.2 million), whilst operating income rose by ¥2.4 billion ($21.6 million/€18.4 million), bring OKI’s printing segment back into the black, at ¥1.9 billion ($17.1 million/€14.6 million).
The company put its positive Printing performance down to “the effects of business structural reforms and currency exchange.”
