Earnings before taxes reached Yen 70 billion (Euro 432.3 million) in the first quarter, mainly due to favorable foreign exchange effects. In the same period last year, Fujifilm recorded a loss before taxes of Yen 18 billion (Euro 111 million). The net result turned from a loss of Yen 34.5 billion (Euro 29.7 million) last year to a profit of Yen 41 billion (Euro 252.9 million) in this year‘s first quarter.
According to Fujifilm, revenue grew mainly due to increased demand for medical systems and the expansion of the manufacturing capacity for flat panel display (FPD) materials and a strong optical device business with lens units for camera phones. Fujifilm‘s Imaging Solutions division, which includes analog and digital photo and imaging systems, minilabs and cameras, recorded a decrease in sales of 3.8 percent to Yen 144.2 billion (Euro 890.3 million) in the first quarter, mainly due to shrinking demand for films and digital minilabs and decreasing sales of the company‘s wholesale photofinishing labs. Sales of color paper, on the other hand, increased, reflecting market share growth in principal countries as well as continued robust performance in the digital camera print business, the company said. Fujifilm also received very positive feedback from the market for some of its recent digital camera models. The operating result of the company‘s Imaging Solutions division was Yen 10.2 billion (Euro 63.2 million) in the first quarter after a loss of Yen 15.9 billion (Euro 98.3 million) in the same period last year.