Things are looking pretty rosy for Canon nowadays, though there’s some difficulty at the horizon. Today, the camera maker published a slightly strong Q3 earnings report, just some months after posting relatively ho-hum Q2 results . In keeping with the corporate, operating profit grew by 17.4 percent to ¥122.55 billion ($1.6 billion) this quarter, compared with ¥104.42 billion ($1.37 billion) a year ago. Net profit, meanwhile, increased by 14.2 percent over the year, reaching ¥77.9 billion ($1.02 billion) in the course of the quarter, versus ¥68.20 billion during Q3 2010. These results come at a time when the yen is powerful, and therefore detrimental to Japanese exporters, though Canon attributed much of its success to strong growth in emerging markets, including China and India. For the year, however, Canon lowered its net-profit outlook to ¥230 billion ($3.02 billion) from ¥260 billion ($3.4 billion), on assumptions that the yen will maintain its strength, and on fears that recent flooding in Thailand may impact production. Actually, the manufacturer said the flooding may cut annual sales by ¥50 billion ($657 million) and operating profit by ¥20 billion. Look at the whole report, on the source link below.
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