In the second quarter of 2019, Renesas expects revenue from semiconductors within the range of 181.5 billion yen and 189.5 billion yen (an increase of 23.7% to 29.1% sequentially, and a decrease of 4.8% to 8.8% year-on-year). For the first half of 2019, revenue from semiconductors is expected to be within the range of 328.2 billion yen to 336.2 billion yen (a decrease of 11.8% to 13.9% year-on-year).
Based on the midpoint of the revenue outlook, Non-GAAP gross margin and operating margin for the second quarter of 2019 is expected to be 43.5% and 9.5%, respectively, and for the first half of 2019, 41.6% and 7.4% respectively.
The forecasts for the second quarter of the 2019 are calculated at the rate of 110 yen per USD and 124 yen per Euro. The forecasts for the first half of 2019 are calculated at the rate of 110 yen per US and 125 yen per Euro.
Capital expenditure for fixed assets (production facilities) and intangible assets (investment decision basis within the period) for the first half of 2019 is expected to be 7.0 billion yen.
Reference: IDT’s Financial Results for the Full Year Ended March 31, 2019
IDT’s sales revenue for the full year ended March 31, 2019 (April 1, 2018 to March 31, 2019) was 948 million USD, an increase of 12.5% year on year. Non-GAAP gross margin for the full year was 64.1%, an increase of 2.0 points from the year on year. Non-GAAP operating income was 291 million USD (an increase of 58 million USD year on year), and Non-GAAP operating margin was 30.7% (3.1 points increase year on year). Further, IDT’s profit and loss will be consolidated into the financial statements of the Renesas Group from the second quarter of 2019 (April 1, 2019 to June 30, 2019).
Other References
Refer to Renesas Electronics’ earnings report “Renesas Electronics Reports Financial Results for the Three Months Ended March 31, 2019” for the consolidated balance sheets, the consolidated statements of income and the consolidated statements of cash flows.
Refer to the separate sheet for IFRS – non-GAAP reconciliation.
Forward-Looking Statements
The statements in this press release with respect to the plans, strategies and financial outlook of Renesas Electronics and its consolidated subsidiaries (collectively “we”) are forward-looking statements involving risks and uncertainties. We caution you in advance that actual results may differ materially from such forward-looking statements due to several important factors including, but not limited to, general economic conditions in our markets, which are primarily Japan, North America, Asia, and Europe; demand for, and competitive pricing pressure on, products and services in the marketplace; ability to continue to win acceptance of products and services in these highly competitive markets; and fluctuations in currency exchange rates, particularly between the yen and the U.S. dollar. Among other factors, downturn of the world economy; deteriorating financial conditions in world markets, or deterioration in domestic and overseas stock markets, may cause actual results to differ from the projected results forecast.
About Renesas Electronics Corporation
Renesas Electronics Corporation ( TSE: 6723) delivers trusted embedded design innovation with complete semiconductor solutions that enable billions of connected, intelligent devices to enhance the way people work and live. A global leader in microcontrollers, analog, power, and SoC products, Renesas provides comprehensive solutions for a broad range of automotive, industrial, home electronics, office automation, and information communication technology applications that help shape a limitless future. Learn more at renesas.com.
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