- Murata Manufacturing Co Ltd MRAAY reported first-quarter FY21 net sales growth of 34.5% year-on-year to ¥439.6 billion.
- An increase in capacitors for automotive electronics and smartphones and SAW filters, inductors, and RF modules for smartphones drove the numbers.
- The operating margin expanded 820 bps to 23.9%.
- The net income rose 95.1% Y/Y to ¥77.2 billion.
- Murata generated ¥58.1 billion in operating cash flow and held ¥373.7 billion in cash and equivalents.
- Outlook: The company sees FY21 net sales of ¥1.73 billion.
- Price action: MRAAY shares traded higher by 6.39% at $21.8 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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