Ricoh reports earnings
For last quarter, net sales were 409.6 billion yen, down 23.4%
- Gross profit down 28.6% to 140.3 billion yen
- operating profit was a loss of 9.3 billion yen (-$88.5 million)
- net profit was a loss of 3.5 billion yen (-$33.5 million)
- R&D expenditures down 6.6% to 23.2 billion yen
- Has 5,895 less employees than last year, with most of the layoffs occurring in the U.S.
o US workforce down 3,668 employees compared to year ago
- Office Printing Group (MFPs and printers) division revenue down 18.6% to 207.4 billion yen ($2 billion)
o hardware sales declined 15%
o revenue down 29.5% in Americas
o Operating profit 1.8 billion yen ($16.7 million)
Operating margin of 0.8%
o MFP shipments down 13%
A3 MFPs down 14%
A4 MFPs down 10%
o Non hardware revenue down 23%
- Office Services’ (IT/FM division) operating profit was down to 7.7 billion yen
o Revenue down to 121.2 billion yen
- Commercial Printing (PPS division) revenue down 21.6% to 34.8 billion yen
o Operating profit down 76.3% to 1.2 billion yen ($11.3 million)
- Total liabilities of 938 billion yen
o Total debt of 262.5 billion yen