HDS: Fiscal 4Q12 Financial Results (Period Ended March 2013)

Hitachi released its financial results for the fourth quarter and year ended March 31, 2013.

The Japanese global company consolidated revenue decreased 6% for the year due mainly to the sale of its HDD business to WD.

The growth of its storage activity is different if measured in $US or in yen.

Here are the figures we received from the company, first for 4Q12, then for the fiscal year.

Consolidated revenues for 4Q12 (HDS + storage sales in Japan) from 4Q11 were $1.146 billion, up 1% Y/Y. Reported on a yen basis, it was ¥106 billion, up 18% and up 5% without Japan domestic sales. The company stated it was the highest revenue ever for a fourth quarter of fiscal year, and the 14th consecutive record quarter of yearly growth.

Always for the same two periods, revenue decreased 6% in Americas, increasing 20% in EMEA and 10% in APAC, not including OEMs probably declining.

The storage business comprised 50% for hardware, 15% for software and 35% for services.

HDS achieved Y/Y growth in the mid twenties for its Hitachi File and Content portfolio, in the low teens for Hitachi Content Platform (HCP), and in the high thirties for its Hitachi NAS platform (HNAS). The company specified that these "numbers do not include associated storage drag."

Without OEM revenue or Japan domestic sales, HDS achieved the following Q/Q revenue growth for hardware: low single digits for total hardware, low teens for enterprise storage, high thirties for mid-range products (Modular storage) boosted by Hitachi Unified Storage VM.

Total software and services revenues, OEM excluded, were up in high single digits, software in the low single digits and services in the low teens

Now for the total fiscal year, HDS, with around 6,000 employees worldwide, reported its highest revenue, $4.559 billion, up 3% from FY11. On a yen basis, it’s ¥379 billion, up 8%.

Not included OEM revenue or Japan domestic sales, the growth is at 5% from FY11 to FY12.

File and content portfolio grew yearly in the low fifties, NAS in the mid fifties, HCP in the mid single digits.

The firm expects to reach ¥195 billion in storage revenue for the six months ended September 30, 2013, corresponding to a yearly growth of 11%, and ¥410 billion or the same 8% yearly growth as in FY12 for next FY13.

Note also that, for the year, sales of optical disc drives, not included in the figure above and conducted by Hitachi-LG Data Storage, decreased due to falling sales prices.