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Daily News

Daikin Industries Yearly Profits Up
May 23, 2013
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Daikin Industries, Ltd. (Osaka Japan) consolidated results showed net sales of 1,290,903 million yen (approx. US$12.7 billion) in its most recent fiscal year, which ended March 31, 2013.

Daikin is the parent company of U.S.-based HVAC companies McQuay and Goodman.

Daikin Industries net sales were up 5.9% from the previous year's net sales of 1,218,700 million yen.

The HVAC corporation's operating income was 88,627 million yen, up 9.2% from 81,192 million yen in the previous fiscal year.

Ordinary income for the year was 94,145 million yen, up 15.2% from the 81,756 million yen in the previous fiscal year.

Net income was 43,584 million yen, up 5.9% from the previous year's net income of 41,171 million yen.

In the first half of the current fiscal year, which ends March 31, 2014, Daikin Industries forecast:
* net sales of 920,000 million yen, up 41.5%
* operating income of 76,000 million yen, up 50.4%
* ordinary income of 74,000 million yen, up 57.1%
* net income of 42,000 million yen, up 366.2%

For the full current fiscal year Daikin Industries forecast:
* net sales of 1,760,000 million yen, up 36.3%
* operating income of 125,000 million yen, up 41.0%
* ordinary income of 120,000 million yen, up 27.5%
* net income of 64,000 million yen, up 46.8%

Daikin's Air-Conditioning and Refrigeration Equipment segment reported overall sales increased by 7.5% to 1,119,972 million yen. Operating income increased 17.8% to 70,904 million yen.

Daikin acquired U.S. air-conditioning manufacturer Goodman, based in Houston, TX, in the second half of 2012. Daikin is also the parent company of HVAC equipment producer McQuay International, based in Minneapolis, MN.

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