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Canon Inc. Message Board

  • kageglantz kageglantz Apr 27, 2006 5:11 AM Flag

    CAJ does it again: record earnings

    Seven straight record years... and CAJ ups guidance as well: See below , from AP:

    Booming digital camera sales lift Canon's quarterly profit to record high

    04:16 a.m. 04/27/2006 Provided By AP Worldstream

    TOKYO, Apr 27, 2006 (AP Worldstream via COMTEX) -- Booming digital camera and color copier sales lifted Canon's net profit 16 percent in the first quarter to a record 108.3 billion yen (US$942 million), keeping Japan's top precision equipment maker on track for a seventh straight year of record annual earnings.

    Canon Inc. said Thursday the strong dollar and euro also lifted its group net profit for the quarter ended March 31 well above the 93.1 billion yen it booked a year ago.

    Group sales for the period jumped 9.5 percent to 923.3 billion yen (US$8.0 billion). Digital camera and camcorder sales were especially strong, surging 84.9 percent from a year ago to 192.1 billion yen (US$1.7 billion).

    Sales of copy machines, computer peripherals and other office equipment also posted a 6.3 percent rise to 631.2 billion yen (US$5.5 billion).

    New products across its lineup and cost-cutting efforts helped offset the effect of falling retail prices to boost earnings, Canon said.
    Tokyo-based Canon plans to broaden its business by entering the TV market later this year using a new kind of flat-panel technology [SEDs] it's developing with Japanese electronics maker Toshiba Corp....

    Canon also revised upward its projected earnings for 2006 to 432 billion yen (US$3.8 billion) from 415 billion yen for a seventh consecutive year of record earnings. In 2005, net profit rose 12 percent to a record 384.1 billion yen (US$3.3 billion; ?2.7 billion).

33.77+0.14(+0.42%)Jul 28 4:03 PMEDT

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