A common Q2 story among OEMs as Brother reports decreased Q2 sales against increased profits.
Brother said sales revenues were negatively impacted by sluggish sales in the machinery business and negative foreign exchange effects from the yen, profits during the second quarter of fiscal year 2019 were up for Brother.
Brother released its second quarter results for fiscal year 2019 recording ¥1,593 billion ($14.62 billion/ €13.2 billion) of net sales, down ¥133 billion ($1.22 billion/ €1.1 billion) on the same period of the previous fiscal year. Operating profit was up ¥27 billion ($247.7 million/ €223.4 million) at ¥184 billion ($1.7 billion/ €1.527 billion).
Brother states that the communications and printing equipment product mix improved, and global sales of consumables were strong in this quarter. In its Printing & Solutions business segment, Brother recorded sales revenues of ¥951 billion ($8.7 billion/ €7.8 billion), down 4.1 percent year-on-year, with a profit of ¥148 billion ($1.35 billion/ €1.22 billion), a 24.3 percent increase year-on-year.
The results forecast was revised downward from the previously forecasted full year sales revenue of ¥6,900 billion ($63.34 billion/ €57.08 billion) to ¥6,420 billion ($58.9 billion/ €53.12 billion) and the forecast dividend per share was reduced from ¥66 ($0.61/ €0.55) to ¥60 ($0.55/ €0.50).
