Canon Reports 14% Surge In FQ4 Net Profit

Canon Inc (NYSE: CAJ) reported a 14% rise in its net profit for the fiscal fourth quarter.

Canon's quarterly net profit surged to Y61.44 billion, versus Y53.96 billion, in the year-ago period. Its operating profit gained 14% to Y94.61 billion versus Y82.85 billion. However, its revenue dropped 9.7% to Y964.76 billion from Y1.068 trillion.

Canon projects its 2012 net profit to rise by 0.6% to Y250 billion. It also projects a 5.4% surge in revenue to Y3.750 trillion.

Canon shares closed at $45.14 on Friday.