Name | Symbol | Market | Type |
---|---|---|---|
Advantest Corporation (PK) | USOTC:ATEYY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
2.07 | 3.47% | 61.72 | 61.00 | 62.02 | 61.89 | 60.52 | 61.16 | 99,978 | 22:00:02 |
1.
|
English translation of a Japanese-language FY2015 First Quarter Consolidated Financial Results for the period ended June 30, 2015, as filed by the registrant with the Tokyo Stock Exchange on July 28, 2015.
|
Advantest Corporation | |||
|
By: | /s/ Hiroshi Nakamura | |
Name: | Hiroshi Nakamura | ||
Title: |
Director, Managing Executive Officer
|
||
Company name
|
:
|
Advantest Corporation
|
(URL http://www.advantest.com/US/investors)
|
||
Stock exchange on which shares are listed
|
:
|
First section of the Tokyo Stock Exchange
|
Stock code number
|
:
|
6857
|
Company representative
|
:
|
Shinichiro Kuroe, Representative Director, President and CEO
|
Contact person
|
:
|
Hiroshi Nakamura, Director, Managing Executive Officer and Executive Vice President, Corporate Administration Group
|
(03) 3214-7500
|
||
Quarterly Report Filing Date (as planned)
|
:
|
August 14, 2015
|
Quarterly Results Supplemental Materials
|
:
|
Yes
|
Quarterly Results Presentation Meeting
|
:
|
Yes
|
Net sales
|
Operating income
|
Income before
income taxes
|
Net income
|
|||||
Million yen
|
% increase
(decrease)
|
Million yen
|
% increase
(decrease)
|
Million yen
|
% increase
(decrease)
|
Million yen
|
% increase
(decrease)
|
|
FY2015 Q1
|
40,277
|
9.4
|
2,709
|
12.8
|
2,803
|
(12.2)
|
1,903
|
42.1
|
FY2014 Q1
|
36,829
|
22.4
|
2,402
|
-
|
3,192
|
-
|
1,339
|
-
|
Net income per share-
basic |
Net income per share-
diluted |
||||
|
Yen
|
|
Yen
|
||
FY2015 Q1
|
10.90
|
9.84
|
|||
FY2014 Q1
|
7.68
|
6.94
|
Total assets
|
Net assets
|
Stockholders’ Equity
|
Equity-to-assets ratio
|
|||||
|
Million yen
|
|
Million yen
|
Million yen
|
|
%
|
||
FY2015 Q1
|
270,321
|
145,066
|
145,066
|
53.7
|
||||
FY2014
|
273,041
|
140,938
|
140,938
|
51.6
|
Dividend per share
|
|||||
(Record Date)
|
First quarter end
|
Second quarter end
|
Third quarter end
|
Year end
|
Annual total
|
yen
|
yen
|
yen
|
yen
|
yen
|
|
FY2014
|
-
|
5.00
|
-
|
10.00
|
15.00
|
FY2015
|
-
|
N/A
|
N/A
|
N/A
|
N/A
|
FY2015
(forecast)
|
N/A
|
10.00
|
-
|
10.00
|
20.00
|
Net sales
|
Operating
income
|
Income before
income taxes
|
Net income
|
Net income per share
|
|||||
|
Million yen
|
%
|
Million yen
|
%
|
Million yen
|
%
|
Million yen
|
%
|
Yen
|
FY2015 Q2
(Cumulative term)
|
85,000
|
7.7
|
8,000
|
25.1
|
8,000
|
(0.2)
|
6,200
|
35.2
|
35.52
|
FY2015
|
165,000
|
1.0
|
15,000
|
2.6
|
15,000
|
(20.5)
|
12,000
|
(7.3)
|
68.75
|
(1)
|
Material changes in subsidiaries during this period (changes in scope of consolidation resulting from changes in subsidiaries): No
|
(2)
|
Use of simplified accounting method and special accounting policy for quarterly consolidated financial statements: Yes
|
(3)
|
Accounting changes:
|
1)
|
Changes based on revisions of accounting standard: No
|
2)
|
Changes other than 1) above: No
|
(4)
|
Number of issued and outstanding stock (common stock):
|
1)
|
Number of issued and outstanding stock at the end of each fiscal period (including treasury stock):
|
2)
|
Number of treasury stock at the end of each fiscal period:
|
3)
|
Average number of outstanding stock for each period (cumulative term):
|
1.
|
Business Results
|
P. 4
|
|
(1)
|
Analysis of Business Results
|
P. 4
|
|
(2)
|
Analysis of Financial Condition
|
P. 6
|
|
(3)
|
Prospects for the Current Fiscal Year
|
P. 6
|
|
2.
|
Others
|
P. 7
|
|
(1)
|
Use of Simplified Accounting Method and Special Accounting Policy for Quarterly Consolidated Financial Statements
|
P. 7
|
|
3.
|
Consolidated Financial Statements
|
P. 8
|
|
(1)
|
Consolidated Balance Sheets (Unaudited)
|
P. 8
|
|
(2)
|
Consolidated Statements of Operations (Unaudited)
|
P.10
|
|
(3)
|
Consolidated Statements of Comprehensive Income (Loss) (Unaudited)
|
P.11
|
|
(4)
|
Consolidated Statements of Cash Flows (Unaudited)
|
P.12
|
|
(5)
|
Notes to Consolidated Financial Statements
|
P.13
|
|
(Notes on Going Concern)
|
P.13
|
||
(Notes on Significant Changes to Stockholders’ Equity)
|
P.13
|
||
(Segment Information)
|
P.13
|
(in billion yen) |
Three months ended
June 30, 2014
|
Three months ended
June 30, 2015
|
As compared to the
corresponding period of
the previous
fiscal year
increase (decrease)
|
|
Orders received
|
49.2
|
44.0
|
(10.6%)
|
Net sales
|
36.8
|
40.3
|
9.4%
|
Operating income
|
2.4
|
2.7
|
12.8%
|
Income before income taxes
|
3.2
|
2.8
|
(12.2%)
|
Net income
|
1.3
|
1.9
|
42.1%
|
(in billion yen) |
Three months ended
June 30, 2014
|
Three months ended
June 30, 2015
|
As compared to the
corresponding period of
the previous
fiscal year
increase (decrease)
|
|
Orders received
|
36.8
|
26.9
|
(26.9%)
|
Net sales
|
26.0
|
24.7
|
(5.2%)
|
Operating income
|
3.1
|
1.4
|
(54.5%)
|
(in billion yen) |
Three months ended
June 30, 2014
|
Three months ended
June 30, 2015
|
As compared to the
corresponding period of
the previous
fiscal year
increase (decrease)
|
|
Orders received
|
5.9
|
9.1
|
54.5%
|
Net sales
|
4.8
|
8.8
|
83.8%
|
Operating income
|
0.2
|
1.9
|
12.3 times
|
(in billion yen) |
Three months ended
June 30, 2014
|
Three months ended
June 30, 2015
|
As compared to the
corresponding period of
the previous
fiscal year
increase (decrease)
|
|
Orders received
|
6.5
|
8.0
|
23.3%
|
Net sales
|
6.0
|
6.8
|
13.4%
|
Operating income
|
0.6
|
0.7
|
16.6%
|
Yen (Millions)
|
||||||||
Assets
|
March 31, 2015
|
June 30, 2015
|
||||||
Current assets:
|
||||||||
Cash and cash equivalents
|
¥ | 97,574 | 92,178 | |||||
Trade receivables, net
|
24,960 | 20,941 | ||||||
Inventories
|
37,210 | 41,915 | ||||||
Other current assets
|
5,057 | 5,975 | ||||||
Total current assets
|
164,801 | 161,009 | ||||||
Investment securities
|
2,249 | 2,543 | ||||||
Property, plant and equipment, net
|
38,480 | 38,160 | ||||||
Intangible assets, net
|
4,085 | 3,890 | ||||||
Goodwill
|
54,590 | 55,613 | ||||||
Other assets
|
8,836 | 9,106 | ||||||
Total assets
|
¥ | 273,041 | 270,321 |
Yen (Millions)
|
||||||||
Liabilities and Stockholders’ Equity
|
March 31, 2015
|
June 30, 2015
|
||||||
Current liabilities:
|
||||||||
Trade accounts payable
|
¥ | 18,101 | 19,018 | |||||
Accrued expenses
|
10,482 | 8,024 | ||||||
Income taxes payable
|
2,106 | 1,271 | ||||||
Accrued warranty expenses
|
1,525 | 1,596 | ||||||
Corporate bonds - current portion
|
10,000 | — | ||||||
Customer prepayments
|
4,900 | 8,122 | ||||||
Other current liabilities
|
2,572 | 4,002 | ||||||
Total current liabilities
|
49,686 | 42,033 | ||||||
Corporate bonds
|
15,000 | 15,000 | ||||||
Convertible bonds
|
30,119 | 30,111 | ||||||
Accrued pension and severance costs
|
35,034 | 36,032 | ||||||
Other liabilities
|
2,264 | 2,079 | ||||||
Total liabilities
|
132,103 | 125,255 | ||||||
Commitments and contingent liabilities
|
||||||||
Stockholders’ equity:
|
||||||||
Common stock
|
32,363 | 32,363 | ||||||
Capital surplus
|
43,770 | 43,761 | ||||||
Retained earnings
|
141,104 | 141,201 | ||||||
Accumulated other comprehensive income
|
18,387 | 22,326 | ||||||
Treasury stock
|
(94,686 | ) | (94,585 | ) | ||||
Total stockholders’ equity
|
140,938 | 145,066 | ||||||
Total liabilities and stockholders’ equity
|
¥ | 273,041 | 270,321 |
Yen (Millions)
|
||||||||
Three months ended
|
Three months ended
|
|||||||
June 30, 2014
|
June 30, 2015
|
|||||||
Net sales
|
¥ | 36,829 | 40,277 | |||||
Cost of sales
|
16,578 | 17,662 | ||||||
Gross profit
|
20,251 | 22,615 | ||||||
Research and development expenses
|
7,381 | 7,961 | ||||||
Selling, general and administrative expenses
|
10,468 | 11,945 | ||||||
Operating income
|
2,402 | 2,709 | ||||||
Other income (expense):
|
||||||||
Interest and dividend income
|
59 | 90 | ||||||
Interest expense
|
(34 | ) | (30 | ) | ||||
Gain on sale of investment securities
|
559 | — | ||||||
Other, net
|
206 | 34 | ||||||
Total other income (expense)
|
790 | 94 | ||||||
Income before income taxes
|
3,192 | 2,803 | ||||||
Income taxes (benefit)
|
1,853 | 900 | ||||||
Net income
|
¥ | 1,339 | 1,903 | |||||
Yen
|
||||||||
Three months ended
|
Three months ended
|
|||||||
June 30, 2014
|
June 30, 2015
|
|||||||
Net income per share:
|
||||||||
Basic
|
¥ | 7.68 | 10.90 | |||||
Diluted
|
6.94 | 9.84 |
Yen (Millions)
|
||||||||
Three months ended
|
Three months ended
|
|||||||
June 30, 2014
|
June 30, 2015
|
|||||||
Comprehensive income (loss)
|
||||||||
Net income
|
¥ | 1,339 | 1,903 | |||||
Other comprehensive income (loss), net of tax
|
||||||||
Foreign currency translation adjustments
|
(2,066 | ) | 3,377 | |||||
Net unrealized gains (losses) on investment securities
|
(255 | ) | 197 | |||||
Pension related adjustments
|
280 | 365 | ||||||
Total other comprehensive income (loss)
|
(2,041 | ) | 3,939 | |||||
Total comprehensive income (loss)
|
¥ | (702 | ) | 5,842 |
Yen (Millions)
|
||||||||
Three months ended
|
Three months ended
|
|||||||
June 30, 2014
|
June 30, 2015
|
|||||||
Cash flows from operating activities:
|
||||||||
Net income
|
¥ | 1,339 | 1,903 | |||||
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
|
||||||||
Depreciation and amortization
|
1,378 | 1,381 | ||||||
Deferred income taxes
|
(786 | ) | 745 | |||||
Gain on sale of investment securities
|
(559 | ) | — | |||||
Changes in assets and liabilities:
|
||||||||
Trade receivables
|
(1,553 | ) | 4,422 | |||||
Inventories
|
(136 | ) | (4,135 | ) | ||||
Trade accounts payable
|
1,364 | 680 | ||||||
Other account payable
|
933 | (74 | ) | |||||
Accrued expenses
|
249 | (2,619 | ) | |||||
Income taxes payable
|
2,318 | (951 | ) | |||||
Accrued warranty expenses
|
(156 | ) | 55 | |||||
Customer prepayments
|
806 | 3,025 | ||||||
Accrued pension and severance costs
|
232 | 901 | ||||||
Other
|
578 | (1,141 | ) | |||||
Net cash provided by (used in) operating activities
|
6,007 | 4,192 | ||||||
Cash flows from investing activities:
|
||||||||
Proceeds from sale of available-for-sale securities
|
1,557 | — | ||||||
Purchases of property, plant and equipment
|
(754 | ) | (279 | ) | ||||
Purchases of intangible assets
|
(142 | ) | (194 | ) | ||||
Other
|
(56 | ) | 69 | |||||
Net cash provided by (used in) investing activities
|
605 | (404 | ) | |||||
Cash flows from financing activities:
|
||||||||
Redemption of corporate bonds
|
- | (10,000 | ) | |||||
Dividends paid
|
(843 | ) | (1,587 | ) | ||||
Other
|
175 | 15 | ||||||
Net cash provided by (used in) financing activities
|
(668 | ) | (11,572 | ) | ||||
Net effect of exchange rate changes on cash and cash equivalents
|
(708 | ) | 2,388 | |||||
Net change in cash and cash equivalents
|
5,236 | (5,396 | ) | |||||
Cash and cash equivalents at beginning of period
|
68,997 | 97,574 | ||||||
Cash and cash equivalents at end of period
|
¥ | 74,233 | 92,178 |
Yen (Millions)
|
||||||||||||||||||||
Three months ended June 30, 2014
|
||||||||||||||||||||
Semiconductor and Component Test System Business
|
Mechatronics System Business
|
Services, Support and Others
|
Elimination and Corporate
|
Total
|
||||||||||||||||
Net sales to unaffiliated customers
|
¥ | 26,044 | 4,793 | 5,992 |
-
|
36,829 | ||||||||||||||
Inter-segment sales
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||
Net sales
|
26,044 | 4,793 | 5,992 |
-
|
36,829 | |||||||||||||||
Operating income (loss) before stock option compensation expense
|
3,118 | 155 | 628 | (1,499 | ) | 2,402 | ||||||||||||||
Adjustment:
|
||||||||||||||||||||
Stock option compensation expense
|
-
|
|||||||||||||||||||
Operating income
|
¥ | 2,402 |
Yen (Millions)
|
||||||||||||||||||||
Three months ended June 30, 2015
|
||||||||||||||||||||
Semiconductor and Component Test System Business
|
Mechatronics System Business
|
Services, Support and Others
|
Elimination and Corporate
|
Total
|
||||||||||||||||
Net sales to unaffiliated customers
|
¥ | 24,673 | 8,810 | 6,794 |
-
|
40,277 | ||||||||||||||
Inter-segment sales
|
6 |
-
|
-
|
(6 | ) |
-
|
||||||||||||||
Net sales
|
24,679 | 8,810 | 6,794 | (6 | ) | 40,277 | ||||||||||||||
Operating income (loss) before stock option compensation expense
|
1,420 | 1,899 | 731 | (1,341 | ) | 2,709 | ||||||||||||||
Adjustment:
|
||||||||||||||||||||
Stock option compensation expense
|
-
|
|||||||||||||||||||
Operating income
|
¥ | 2,709 |
|
1.
|
Adjustments to operating income in Corporate principally represent corporate general and administrative expenses and research and development expenses related to fundamental research activities that are not allocated to operating segments.
|
|
2.
|
Advantest uses the operating income (loss) before stock option compensation expense for management’s analysis of business segment results.
|
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