TOKYO (dpa-AFX) - Digital camera maker Canon Inc. (CAJ) reported Tuesday that its second-quarter net income attributable to Canon declined 21.6 percent to 53.45 billion Japanese yen or $518.92 million, from last year's 68.20 billion yen.
Earnings per share were 48.94 yen or $0.48, down from 62.44 yen last year.
Operating profit declined 34.5 percent year-over-year to 68.60 billion yen or $665.98 million.
Net sales for the quarter declined 11.7 percent to 860.25 billion yen or $8.35 billion from prior year's 974.41 billion yen.
Office Business Unit's total sales of 456.4 billion yen declined 15 percent.
Looking ahead, Canon now projects full-year consolidated net sales in 2016 of 3.52 trillion yen, a year-on-year decrease of 7.4%, operating profit of 265.0 billion yen, a year-on-year decrease of 25.4%, and attributable net income of 180 billion yen, a year-on-year decrease of 18.3%.
Canon's previous outlook was sales of 3.6 trillion yen, operating profit of 300 billion yen, and attributable net income of 200 billion yen.
Copyright RTT News/dpa-AFX