Digital camera and business appliance manufacturer Canon Inc. announced first-half 2005 consolidated net sales of 1,755.8 billion yen (approx. U.S. $ 15,818 million), an increase of 6.5 percent over the first half of fiscal year 2004.
Canon reported first half net income of 175.3 billion yen (approx. $ 1,579 million), an increase of 9.0 percent over the same period last year and a basic net income per share of 197.61 yen (approx. $ 1.78).
The manufacturer also reported second-quarter revenue of 912.5 billion yen (approx. $8,220 million), 7.3 percent higher than second-quarter 2004, with net income of 82.2 billion yen (approx. $741 million), 7.5 percent higher than second-quarter 2004.
"In the second quarter of 2005, net sales were up 7.3 percent on strong demand for color copying machines and color laser beam printers in line with growing demand for color printing in the office," said Toshizo Tanaka, senior managing director and group executive for Finance and Accounting Headquarters, Canon." We also recorded robust digital camera sales growth, supported by strong sales of digital SLRs.
"Although we assume severe price competition will continue, we do not expect any major changes in the competitiveness of our products or our earnings structure," Mr. Tanaka continued. "As such, we anticipate both net sales and profit to grow by between 5 and 6 percent in the second half. We still aim to achieve our sixth consecutive year of increased sales and profits, exceeding the all-time highs we set last year."
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