TOKYO (dpa-AFX) - Canon Inc. (CAJPY) on Monday reported lower profits for the third quarter, even as sales inched higher from a year earlier.
The Japanese imaging and optical products maker posted profit before tax of 91.830 billion yen, up 2.8% from 89.322 billion yen a year earlier, reflecting an other expense of 11.658 billion in the previous year. The company recorded other income of 2.405 billion yen for the latest quarter.
Operating profit fell 10.3% year-on-year to 88.047 billion yen.
Net income declined to 63.667 billion yen, or 71.46 yen per share, compared with 68.763 billion yen or 71.85 yen per share a year earlier.
Net sales increased 2.3% to 1.104 trillion yen, from 1.080 trillion yen.
Looking ahead to the full year, the company expects sales to increase 2.4% to 4.616 trillion yen. Net income is expected to increase 103.4% to 325.5 billion yen with earnings per basic share of 360.23 yen.
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