Consolidated Financial Highlights 21F Third Quarter EIZO

What They Say

High end monitor maker Eizo Corportation published its quarterly report. The result showed a good result for its fiscal Q3 with sales up 19.1% from ¥53.5 billion ($467 million) to ¥63.7 billion ($556 million) and income of $58.8 million, up to 13.2% from 8.6% a year ago. There was a one off boost in the amusement arcade business (the firm makes displays for Pachinko sites) after a special deadline of January, although the market is declining in the longer term.

The firm also saw good sales of business monitors (+12.9%), especially ultrawide curved monitors and also healthcare (+16.8% and a third of the firm’s business). (I have heard that in Europe, the content creation monitor side has done well out of the level of new content commissions by Netflix and other streamers).

Monitors for creative work were boosted by the demand for products for content creation with HDR (+21.9%). The segment saw a better result than its has reported in several years (we’d say it was a record, but the data is only shown back to 2018).

For next quarter, the firm is confident that it can reach its annual plan which would be 7.4% up. Logistics remain a concern.

What We Think

Eizo continues to do a good job of building a profitable business based on excellent products. The firm is a good bellwether of the different segments of the professional monitor business. (BR)

Eizo sales