Japanese PV manufacturing equipment provider, NPC Inc. has reported an increase in sales and profits for the first quarter of the fiscal year, ending on August 31, 2018.
The company registered sales in the amount of JPY 1,567 million ($14.1 million) in the quarter ending on November 30, 2017, up considerably from JPY 449 million in the same period a year earlier.
As a result, the company was able to swing from an operating loss of JPY 39 million in the first quarter of the past fiscal year, to an operating profit of JPY 190 million. Net result also improved from a loss of JPY 55 million, to a profit of JPY 186 million.
The company stressed that its machinery business was almost as planned, due to steady sales of PV module manufacturing equipment and automated machines.
Furthermore, NPC has revealed it received orders worth a total of JPY 2,190 million in the quarter, and that its order backlog at the end of the period was JPY 5,257 million.
Looking forward, NPC said it is expecting to generate revenue of JPY 5,978 million in the current fiscal year. If confirmed, this result may represent a 25.5% improvement over the turnover of JPY 3,996 million it registered in the last fiscal year.