TOKYO (dpa-AFX) - Canon Inc. (CAJ) Wednesday said its income before income taxes for the third quarter was 79,076 million yen, relatively flat with 79,326 million in the same quarter a year ago. The company also slashed profit outlook for the full year.
Profit in the third quarter increased to 54,118 million yen or 52.88 yen per share from 49,317 million yen or 47.15 yen per share in the same quarter in the previous year.
Quarterly sales grew 19.5% to 996,090 million yen from 833,324 million last year.
Looking forward, Canon has raised its annual revenue outlook to 4,090,000 million yen from 4,080,000 million yen. The company's 2021 sales were 3,513,357 million yen.
Meanwhile, citing valuation losses on securities and currency exchange losses, net income outlook for the full year has been revised down to 250,000 million yen from 262,000 million yen as guided earlier. Last year, the company had registered a profit of 214,718 million yen.
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