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Canon Q2 Profit Rises; Backs 2014 Profit View, But Cuts Net Sales Outlook(dpa-AFX International Compact Via Acquire Media NewsEdge) TOKYO (dpa-AFX) - Japanese camera and printer maker Canon Inc. (CAJ) reported that its net income attributable to Canon Inc. for the second-quarter increased by 21.6% to 80.85 billion yen or $800 million from last year's 66.50 billion yen, with earnings per share improving to 72.61 yen or $0.72 from 57.68 yen in the same quarter last year. During the second quarter, sales of MFDs remained firm while sales in the industrial equipment increased significantly. Conversely, demand for digital compact cameras continued to shrink while net sales of inkjet printers decreased owing to the increase in consumption tax in Japan. But, quarterly net sales decreased 4.1% to 926.80 billion yen or $9.176 billion, from 966.88 billion yen last year. For fiscal 2014, the company still projects net income attributable to the company of 240.0 billion yen and operating profit of 365.0 billion yen. The company lowered its full-year 2014 net sales outlook to 3.78 trillion yen or $37.426 billion from the prior estimate of 3.86 trillion yen. Copyright RTT News/dpa-AFX |