Canon Reports Increases in First-Half 2004 Jul 29, 2004

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Canon Inc. reported first-half 2004 consolidated net sales of 1,648.4 billion yen (approx. U.S. $15,263 million), an increase of 7.3 percent over the first half of fiscal year 2003.

The digital camera and copy machine manufacturer also reported first-half net income of 160.8 billion yen ( approx. $ 1,489 million), an increase of 25.8 percent over the same period last year and an earning per share of 181.84 yen (US$ 1.68).

Canon also reported second-quarter revenue of 850.4 billion yen (approx. $ 7,874 million), 5.8-percent higher than second-quarter 2003 with net income of 76.5 billion yen (approx. $ 708 million), 36.2-percent higher than second-quarter 2003.

"Although the yen was a negative factor, we were able to achieve this through continued strong sales growth of both digital cameras and color copying machines and higher sales of IC steppers, along with a recovery in the semiconductor market," said Toshizo Tanaka, senior managing director and group executive for Finance and Accounting Headquarters, Canon Inc. "Consequently, we achieved our eighth consecutive quarter of year-on-year growth in both net sales and profit."

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