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Toyo Ink, EFI, Sensient and ALTANA Report Results



Published May 1, 2013
Related Searches: ink efi pigments offset
Toyo Ink SC Holdings Co., Ltd. announced the third quarter financial results for the fiscal year ending March 31, 2013.

Net sales for the first three quarters of fiscal 2012 (from April 1, 2012 to Dec. 31, 2012) were ¥187,189 million ($1.89 billion), a 0.9% over 2011’s first three quarters. Operating income increased 25.9% to ¥13,773 million ($139 million), while net income was ¥6,102 million ($61.7 million), an increase of 4.6% compared to the first three quarters of 2011.

Sales in the Printing and Information Business decreased to ¥56,150 million($568 million), down 2.1% year on year, but operating income increased to ¥2,440 million ($24.7 million), up 144.3% year on year, as a result of cost-cutting measures and higher sales of advanced products. Demand for offset ink in Japan remained stagnant, reflecting the delayed recovery of the economy as well as a structural recession resulting from the progress of digitization. However, compared with the same period in the previous fiscal year, when business was affected by voluntary advertising restraints due to the earthquake, demand for commercial and newspaper printing recovered.

Sales of advanced products increased, including products with high UV sensitivity and inks for rotary offset printing, grew. Meanwhile, a slowdown of the economies in China and Southeast Asia resulted in sluggish sales growth, and earnings were hurt mainly by the escalating price competition and higher labor costs.

Toyo Ink noted that sales in the overall Packaging Business were ¥42,607 million ($430.7 million), up 1.5% year on year. Operating income was ¥1,876 million ($19 million), up 40.4% year on year. Mainstay gravure inks for packaging remained sluggish, although they recovered slightly in the second half. Sales of eco-friendly inks for packaging increased in China and Southeast Asia and demand for gravure inks for construction materials remained strong in North America.

Electronics For Imaging, Inc. (EFI) announced its results for the first quarter of 2013.

For the quarter ended March 31, 2013, the company reported first quarter record revenue of $171.4 million, up 7% compared to first quarter 2012 revenue of $160.1 million. First quarter 2013 non-GAAP net income was $15.8 million or $0.33 per diluted share, which included an unfavorable non-operational currency impact of $0.04 per diluted share, compared to non-GAAP net income of $14.2 million for the same period in 2012. GAAP net income was $8.4 million or $0.17 per diluted share, compared to $6.2 million for the same period in 2012.

“The EFI team delivered a great first quarter with revenue growth above our expectations, a solid increase in profitability, and very strong cash generation,” said Guy Gecht, CEO of EFI.

Sensient Technologies Corporation reported diluted earnings per share of 43 cents for the three months ended March 31, 2013, which includes restructuring costs of 19 cents per share. As adjusted, to remove the impact of the restructuring costs, diluted earnings per share were 62 cents, an increase of 6.9% over the 58 cents reported in the first three months of 2012, and a record for the first quarter.

Consolidated revenue of $366 million in the first quarter was unchanged from the prior year. Operating income was $36.3 million. The company’s operating margin, as reported, was 9.9%.

“I am very pleased with the company’s performance in the first quarter,” said Kenneth Manning, chairman and CEO of Sensient Technologies. “We will remain focused on improving profitability, and our restructuring program will enhance this effort. I am very optimistic about the company’s future.”

The Color Group reported revenue of $127.9 million in the first quarter of 2013, compared to $132.3 million in the comparable period last year. The Group’s operating margin for the first quarter increased to 20.3%, from 19.5% in last year’s first quarter. Strong performances in industrial inks and the food and beverage businesses in Latin America and Brazil contributed to the operating margin improvement.

ALTANA announced that it increased its sales and earnings again in 2012.ALTANA increased sales by 5% to €1.7 billion in the business year 2012. Earnings before interest, taxes, depreciation and amortization (EBITDA) also grew by 5%, reaching €323 million. At 19%, the EBITDA margin remained at a high level.

“In 2012, we proved once again that we are able to achieve profitable growth, even in a rapidly changing environment,” said Dr. Matthias Wolfgruber, CEO of ALTANA AG. “This was possible because we have implemented our growth strategy consistently and acted flexibly.“

The BYK Additives & Instruments division increased sales 6% to €618 million in 2012. At €341 million, sales in the ECKART Effect Pigments division was 2% down on the previous year.

The highest sales increase in 2012 was achieved by the ACTEGA Coatings & Sealants division. At €334 million, sales were up 12% on the previous year. This development was driven by the acquisition of the Colorchemie Group in mid-2011.


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