KYOCERA Announces Consolidated Financial Results for Three Months Ended June 30, 2010 (FY11-Q1)

KYOTO, Japan--(BUSINESS WIRE)--Kyocera Corporation (NYSE:KYO, TOKYO:6971) today announced its consolidated financial results for the first quarter of fiscal year 2011 (the three months ended June 30, 2010), as summarized below. Complete details are available at: http://global.kyocera.com/ir/financial/f_results.html


Financial Results: Three Months Ended June 30
Unit: millions (except percentages and per share amounts)
	2009 (FY10) in JPY	2010 (FY11) in JPY	Increase		2010 (FY11) in USD	2010 (FY11) in Euro
	2009 (FY10) in JPY	2010 (FY11) in JPY	Amount in JPY	%	2010 (FY11) in USD	2010 (FY11) in Euro
Net sales	225,401	313,175	87,774	38.9	3,559	2,900
Profit (loss) from operations	(5,572)	40,603	46,175	-	461	376
Income before income taxes	703	46,323	45,620	-	526	429
Net income (loss) attributable to shareholders of Kyocera Corporation	(460)	29,893	30,353	-	340	277
Diluted earnings (losses) per share attributable to shareholders of Kyocera Corporation	(2.50)	162.89	-	-	1.85	1.51
Note: As a convenience to the reader, U.S. dollar (USD) and Euro conversions are based on the rates of USD1 = JPY88 and Euro1 = JPY108, rounded to the nearest unit.

Summary of Consolidated Financial Results
The three months ended June 30, 2010 (the "first quarter") brought a substantial improvement in the business environment as compared to the previous first quarter, with increased demand for components and successful product launches in the mobile phone business. As a result, consolidated net sales jumped by 38.9%, to JPY313,175 (USD3,559) million, compared with JPY225,401 million in the previous first quarter.

In addition to increased sales, efforts to enhance profitability in each business segment produced measurable results. Profit from operations amounted to JPY40,603 (USD461) million, up JPY46,175 million, from a loss of JPY5,572 million in the previous first quarter. Income before income taxes totaled JPY46,323 (USD526) million, up JPY45,620 million, from JPY703 million in the previous first quarter. Net income attributable to shareholders of Kyocera Corporation amounted to JPY29,893 (USD340) million, up JPY30,353 million, from a loss of JPY460 million in the previous first quarter.


Quarter-on-Quarter Comparison
Unit: millions (except percentages)
	Q4 (FY10) in JPY	Q1 (FY11) in JPY	Increase
	Q4 (FY10) in JPY	Q1 (FY11) in JPY	Amount in JPY	%
Net sales	304,885	313,175	8,290	2.7
Profit from operations	25,847	40,603	14,756	57.1
Income before income taxes	28,059	46,323	18,264	65.1
Net income attributable to shareholders of Kyocera Corporation	21,614	29,893	8,279	38.3

Despite the appreciation of the yen to the euro, increased orders in the components business and enhanced profit in the telecommunications equipment business led to improved sales and profit in the first quarter compared to the previous fourth quarter. Overall pre-tax profitability of the company has been on an upward trend for the past three quarters, from 5.5% in the previous third quarter, and 9.2% in the previous fourth quarter, to 14.8% in this first quarter.

Outlook and Future Prospects
While business performance for the first quarter progressed strongly and Kyocera anticipates a continuation of the favorable business environment in the second quarter, there still remains some difficulty in foreseeing demand from the third quarter onward. Accordingly, Kyocera's financial forecasts for the fiscal year ending March 31, 2011 remain unchanged at this time from those announced in April 2010.

Within its forecasts, Kyocera has made revisions to the average exchange rates for fiscal 2011 to reflect actual currency fluctuations during the first quarter and revised expectations for the remainder of the year, as noted below.

Consolidated Forecasts: Full Year Ending March 31, 2011

Unit: yen in millions (except percentages, per share amounts and exchange rates)

Fiscal 2011 Forecasts announced on

Increase
(Decrease)

(%) to Fiscal
2010 results

Fiscal 2010
Results

April 27, 2010

July 29, 2010

Net sales

1,073,805

1,200,000

11.8

Profit from operations

63,860

122,000

91.0

Income before income taxes

60,798

132,000

117.1

Net income attributable to shareholders of
Kyocera Corporation

40,095

85,000

112.0

Diluted earnings per share attributable to

shareholders of Kyocera Corporation

218.47

463.15

463.16

Average USD exchange rate

Average Euro exchange rate

131

120

110

Notes:
1. Forecast of earnings per share announced on July 29, 2010 is computed based on the diluted average number of shares outstanding during the three months ended June 30, 2010.
2. Forecast of earnings per share announced on April 27, 2010 is computed based on the diluted average number of shares outstanding during year ended March 31, 2010.

FORWARD-LOOKING STATEMENTS
Except for historical information contained herein, the matters set forth in this press release are forward-looking statements that involve risks and uncertainties including, but not limited to, product demand, competition, regulatory approvals, the effect of economic conditions and technological difficulties, and other risks detailed in the Company's filings with the U.S. Securities and Exchange Commission.

About KYOCERA

Kyocera Corporation (NYSE:KYO)(TOKYO:6971)(http://global.kyocera.com/), the parent and global headquarters of the Kyocera Group, was founded in 1959 as a producer of fine ceramics (also known as "advanced ceramics"). By combining these engineered materials with metals and plastics, and integrating them with other technologies, Kyocera has become a leading supplier of solar power generating systems, telecommunications equipment, electronic components, printers, copiers, semiconductor packages, cutting tools and industrial ceramics. During the year ended March 31, 2010, the company's net sales totaled 1.07 trillion yen (approximately USD11.5 billion). The company is ranked #554 on Forbes magazine's 2010 "Global 2000" listing of the world's largest publicly traded companies.