Canon announces Q1 2005 results|
(Thursday, April 28, 2005 - 16:25 EDT)
Japanese imaging company Canon Inc. has released its consolidated results for the first quarter of 2005 through March 31st.
According to the Canon website, the company had net sales of some ¥843.4 billion - 5.7% higher than the same period last year, and 2.2% above projections. Operating profit for the quarter at ¥143.3 billion was 7.3% above last year, and net income rose 10.4% to ¥93.1 billion for the quarter - 6.1% and 9.5% above projections respectively.
Camera sales accounted for some ¥160 billion - 2.1% above Q1 2004, and 1.7% above projections. Indicative of falling margins in an increasingly competitive marketplace, operating profit from camera sales fell from ¥29.2 billion last year to ¥23.8 billion this year.
Impressively, Canon is projecting that digital SLR sales will make up 37% of digital camera sales by value in 2005, and 11% of unit sales.