Notice Concerning the Difference between Forecasts and Actual Financial Results for the Three Months Ended June 30, 2014
(ENP Newswire Via Acquire Media NewsEdge) ENP Newswire - 07 August 2014
Release date- 06082014 - TOKYO, Japan - Renesas Electronics Corporation (TSE: 6723), a premier provider of advanced semiconductor solutions, today announced its difference between consolidated financial forecasts, which it disclosed on May 9, 2014, and actual results, which it disclosed today, for the three months ended June 30, 2014 (the period from April 1, 2014 to June 30, 2014).
1. Difference between consolidated forecasts and actual results for the three months ended June 30, 2014
(April 1, 2014 to June 30, 2014)
In millions of yen
Net Sales Operating Income (loss) Ordinary Income (Loss) Net Income (Loss) Net Income (Loss) per Share (Yen)
(As of May 9, 2014) 202,000 20,000 17,500 14,000 8.40
Actual results 209,259 26,984 25,343 21,199 12.72
Increase (decrease) 7,259 6,984 7,843 7,199 4.32
Percent change 3.6% 34.9% 44.8% 51.4% 51.4%
Results for the three months ended June 30, 2013 199,057 9,779 8,538 (3,990) (9.57)
Background to the difference
Renesas announced the following financial results for the three months ended June 30, 2014: net sales were 209.3 billion yen, 7.3 billion yen up from the previous forecast (announced on May 9, 2014); semiconductor sales were 201.2 billion yen, 5.2 billion yen up from the previous forecast.
Operating income (loss), ordinary income (loss) and net income (loss) were all better than the company's estimates, mainly owing to semiconductor sales being over the company's expectation and its efforts on promoting cost-containment measures.
Details will be explained in Renesas' announcement of financial results for the three months ended June 30, 2014 on August 6, 2014.
The statements in this press release with respect to the plans, strategies and financial outlook of Renesas Electronics and its consolidated subsidiaries (collectively 'we') are forward-looking statements involving risks and uncertainties. We caution you in advance that actual results may differ materially from such forward-looking statements due to several important factors including, but not limited to, general economic conditions in our markets, which are primarily Japan, North America, Asia, and Europe; demand for, and competitive pricing pressure on, products and services in the marketplace; ability to continue to win acceptance of products and services in these highly competitive markets; and fluctuations in currency exchange rates, particularly between the yen and the U.S. dollar. Among other factors, downturn of the world economy; deteriorating financial conditions in world markets, or deterioration in domestic and overseas stock markets, may cause actual results to differ from the projected results forecast.
About Renesas Electronics Corporation
Renesas Electronics Corporation (TSE: 6723), the world's number one supplier of microcontrollers, is a premier supplier of advanced semiconductor solutions including microcontrollers, SoC solutions and a broad range of analog and power devices. Business operations began as Renesas Electronics in April 2010 through the integration of NEC Electronics Corporation (TSE:6723) and Renesas Technology Corp., with operations spanning research, development, design and manufacturing for a wide range of applications. Headquartered in Japan, Renesas Electronics has subsidiaries in approximately 20 countries worldwide. More information can be found at www.renesas.com.
The content in the press release, including, but not limited to, product prices and specifications, is based on the information as of the date indicated on the document, but may be subject to change without prior notice.
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