Hoya Announces Fourth Quarter and Full-Year Financial Results

TOKYO, May 7, 2010 /PRNewswire-FirstCall/ -- HOYA Corporation today announced financial results for the fourth quarter and fiscal year ended March 31, 2010. Net sales were 104.8 billion yen for the quarter, representing an increase of 26.4% from 82.9 billion yen in the same period last year, mainly due to a recovery in orders in the main business fields such as Electro-Optics, as well as the cost-reduction achieved through structural reform.

Operating income for the fourth quarter was 17.3 billion yen compared to operating loss of 60 million yen for the same period last year. Net income for the fourth quarter was 11.8 billion yen, or 27.48 yen per share compared to net loss of 27.8 billion yen, or 64.30 yen per share of the fourth quarter last year.

For the fiscal year ended March 31, 2010, net sales fell 9.0% over the previous fiscal year to 413.5 billion yen, however, operating income was up 8.9% to 64.3 billion yen, and net income was up 50.8% to 37.8 billion yen, due to an increase in profit in the areas of Eye Care and Pentax. Earnings per share were 87.52 yen compared with 58.01 yen in the last year.

"The Company was able to increase the full-year consolidated net sales to 413.5 billion yen, exceeding 2.5 billion yen of the projected results released on February 9, 2010." said Hiroshi Suzuki, chief executive officer of HOYA. "The Eye Care segment such as eyeglass lens business remains strong and is well-positioned in the competitive market. Also a demand for glass disks exceeded our prediction."

HOYA also announced year-end dividends forecast of 35 yen per share of common stock. The annual dividend, including the interim dividends of 30 yen per share, will amount to 65 yen per share. It will be decided at the board of directors meeting in the end of May.

The full quarterly report is available in "Financial Statement" page in HOYA website Investor Relations section at: http://www.hoya.co.jp/english/

*Results are preliminary and unaudited.

*The yen amounts shown therein are rounded down to the nearest 100 million.

About Hoya Corporation

Hoya Corporation is a global technology company based in Tokyo, Japan, and the leading supplier of innovative and indispensable high-tech products and services based upon its advanced optics technologies. Hoya is active in four fields of business: (1) Eye Care - provides eyeglasses, operates retail shops for contact lenses, and makes intraocular lenses for cataract surgery; (2) Life Care - provides endoscopic system; (3) Electro-Optics - makes mask blanks and photo masks for the semiconductor devices and LCD panels, optical lenses for digital cameras, and glass memory disks for HDDs; and (4) Imaging - produces SLR/compact digital cameras, interchangeable lenses, lens modules and micro lenses. Hoya now has over 100 subsidiaries and affiliates, and employs more than 30,500 people worldwide.

SOURCE Hoya Corporation