FY2004 Consolidated Financial Results
(Prepared in accordance with U.S. GAAP)
(Year ended March 31, 2005)
April 26, 2005
Company name : Advantest Corporation
(URL http://www.advantest.co.jp/investors/)
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Stock exchanges on which shares are listed : Tokyo Stock Exchange
Stock code number : 6857
Location of principal office : Tokyo Prefecture
Company representative : Toshio Maruyama, Representative Board Director, President of
Corporate Executive Officers and COO
Contact person : Hiroshi Nakamura, Manager, Accounting Department
(03) 3214-7500
Date of Board meeting to approve the
financial results : April 26, 2005
Application of U.S. GAAP : Yes
1. Consolidated Results of FY2004 (April 1, 2004 through March 31, 2005)
(1) Consolidated Financial Results
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Net sales Operating income Income before income
taxes
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Million yen % Million yen % Million yen %
FY2004 239,439 37.4 60,719 96.1 61,808 114.0
FY2003 174,218 78.2 30,960 - 28,878 -
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Net income Net income Net income Return on Ratio of income Ratio of
per share per share equity before income income before
(basic) (diluted) taxes to income taxes
stockholders' to net sales
equity
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Million yen % Yen Yen % % %
FY2004 38,078 119.7 389.54 388.51 17.8 19.7 25.8
FY2003 17,329 - 176.37 176.02 8.0 9.4 16.6
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Note 1: There was no equity in losses of affiliates in FY2004 and was (Y)117
million in FY2003.
Note 2: No change in accounting policy was adopted during these periods.
Note 3: Average number of shares outstanding was 97,750,345 shares during
FY2004 and 98,250,830 during FY2003.
Note 4: The percentages shown for net sales, operating income, income before
income taxes and net income are changes from the previous year.
(2) Consolidated Financial Position
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Total assets Stockholders' equity Equity-to-assets ratio Stockholders' equity
per share
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Million yen Million yen % Yen
FY2004 296,769 206,749 69.7 2,236.97
FY2003 330,808 221,768 67.0 2,256.59
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Note: Outstanding number of shares at year end was 92,423,615 shares in FY2004
and 98,275,640 shares in FY2003.
(3) Consolidated Cash Flows
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Cash flows from Cash flows from Cash flows from Cash and cash
operating activities investing activities financing activities equivalents at end of
year
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Million yen Million yen Million yen Million yen
FY2004 90,327 (8,250) (63,036) 120,986
FY2003 28,215 (5,070) (6,376) 101,146
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(4) Scope of Consolidation and Equity Method Number of consolidated
subsidiaries: 39 companies
Number of unconsolidated subsidiaries: None
Number of affiliates accounted for under the equity method: None
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(5) Changes in Scope of Consolidation and Equity Method
Consolidated subsidiaries
(Newly included) 3 companies
(Excluded) 4 companies
Affiliates accounted for under the equity method
(Newly included) none
(Excluded) none
2. Projected Results for FY2005 (April 1, 2005 through March 31, 2006)
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Net sales Net income before Net income
income taxes
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Million yen Million yen Million yen
FY2005 interim 112,000 25,000 15,000
FY2005 240,000 60,000 37,000
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(Reference) Projected net income per share for the fiscal year: (Y)400.33
Figures presented in this Earning Digest have been rounded to the nearest
million yen.
For a discussion of the assumptions and other factors upon which these
projections are based, please refer to "Prospects for the Upcoming Fiscal Year"
appearing elsewhere in this document.
Cautionary Statement with Respect to Forward-Looking Statements
This document 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 registration
statement on Form 20-F, which is on file with the United States Securities and
Exchange Commission.
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