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Article Date: October 2019
Word Count: 223

Shimano Raises Earnings Guidance after Solid Q3

Comprehensive net income was off 36% in the third quarter to ¥11,266 million ($105.0 mm) including a negative swing in foreign currency translation adjustments, from ¥18,033 million last year, as revenues gained 11% to ¥87,574 million ($816.2 mm) from ¥79,192 million. Excluding comprehensive items, net income was up 47% to ¥18,033 million, helped by a 90 basis point expansion in gross margin to 39.4% and SG&A spending that leveraged 100 b.p. on the higher revenues. Shimano maintained its full year revenue guidance of ¥362.0 billion, but now expects net income of ¥55.3 billion due to depreciation in Asian currencies, an ... Log in to view full article.


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