FOR IMMEDIATE RELEASE
July 28, 2004
ADVANTEST CORPORATION
(Toshio Maruyama, Representative Board Director,
President of Corporate Executive Officers and
Chief Operating Officer)
(Stock Code Number: 6857, TSE first section)
(Ticker Symbol: ATE, NYSE)
CONTACT:
Hiroshi Nakamura
(Manager, Accounting Department)
Phone: +81-(0)3-3342-7500
Revision of Earnings Forecast for the Fiscal Year Ending March 2005
In light of recent developments in the market and other factors, Advantest
Corporation hereby revises the earnings forecast previously released in its
Annual Financial Digest dated April 26, 2004.
(Consolidated Earnings) [US GAAP]
1. FY 2004 interim (April 1, 2004 to September 30, 2004)
(in millions of yen)
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Income before income
Net Sales taxes Net Income
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Previous forecast (A) 125,000 30,000 18,000
(as of April 26, 2004)
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Revised forecast (B) 140,000 42,000 26,000
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Difference (B-A) 15,000 12,000 8,000
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Percentage change 12.0% 40.0% 44.4%
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FY 2003 interim results 62,286 3,721 2,453
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2. FY 2004 (April 1, 2004 to March 31, 2005)
(in millions of yen)
- -------------------------------------------------------------------------------
Income before income
Net Sales taxes Net Income
- -------------------------------------------------------------------------------
Previous forecast (A) 250,000 60,000 36,000
(as of April 26, 2004)
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Revised forecast (B) 250,000 70,000 43,000
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Difference (B-A) 0 10,000 7,000
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Percentage change 0.0% 16.7% 19.4%
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FY 2003 results 174,218 28,878 17,329
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(Unconsolidated Earnings) [Japanese GAAP]
1. FY 2004 interim (April 1, 2004 to September 30, 2004)
(in millions of yen)
- ------------------------------------------------------------------------------
Net Sales Ordinary Income Net Income
- ------------------------------------------------------------------------------
Previous forecast (A) 110,000 25,000 15,000
(as of April 26, 2004)
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Revised forecast (B) 120,000 33,500 21,000
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Difference (B-A) 10,000 8,500 6,000
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Percentage change 9.1% 34.0% 40.0%
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FY 2003 interim results 50,846 2,482 1,819
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2. FY 2004 (April 1, 2004 to March 31, 2005)
(in millions of yen)
- ------------------------------------------------------------------------------
Net Sales Ordinary Income Net Income
- ------------------------------------------------------------------------------
Previous forecast (A) 220,000 50,000 30,000
(as of April 26, 2004)
- ------------------------------------------------------------------------------
Revised forecast (B) 220,000 55,000 34,000
- ------------------------------------------------------------------------------
Difference (B-A) 0 5,000 4,000
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Percentage change 0.0% 10.0% 13.3%
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FY 2003 results 150,558 24,033 11,957
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Reasons for the Above Revisions
After the announcement of financial results on April 26, 2004, demands for
capital investment among semiconductor makers have been expected to exceed
the initial forecasts throughout the interim. Accordingly, interim results
primarily for the Semiconductor and Component Test System are likely to
surpass by far the previously released net sales and earnings forecasts.
Accordingly, consolidated and unconsolidated earning forecasts for the
interim have been revised as aforementioned.
While the net sales forecast for the fiscal year remains unchanged, the
earnings forecast for the fiscal year is revised as aforementioned due to
the prospect of the profit ratio improving beyond the initial forecast. As
a result, consolidated and unconsolidated earning forecasts for the fiscal
year have been revised as aforementioned.
* Cautionary Statement with Respect to Forward-Looking Statements
This release contains "forward-looking statements" that are based on
Advantest's current expectations, estimates and projections. These
forward-looking statements are subject to known and unknown risks, uncertainties
and other factors that may cause Advantest's actual results, levels of activity,
performance or achievements to be materially different from those expressed or
implied by such forward-looking statements. These factors include: (i) changes
in demand for the products and services produced and offered by Advantest's
customers, including semiconductors, communications services and electronic
goods; (ii) circumstances relating to Advantest's investment in technology,
including its ability to timely develop products that meet the changing needs of
semiconductor manufacturers and communications network equipment and components
makers and service providers; (iii) significant changes in the competitive
environment in the major markets where Advantest purchases materials, components
and supplies for the production of its products or where its products are
produced, distributed or sold; and (iv) changes in economic conditions, currency
exchange rates or political stability in the major markets where Advantest
procures materials, components and supplies for the production of its principal
products or where its products are produced, distributed or sold. A discussion
of these and other factors which may affect Advantest's actual results, levels
of activity, performance or achievements is contained in the "Operating and
Financial Review and Prospects", "Key Information - Risk Factors" and
"Information on the Company" sections and elsewhere in Advantest's annual report
on Form 20-F, which is on file with the United States Securities and Exchange
Commission.