Canon Posts 0.4% Decline In Q4 Profit

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Canon (NYSE: CAJ) reported a 0.4% drop in its net profit for the fourth quarter. It also expects a 14% rise in its profit for 2013.Canon projects a net profit of Y255 billion for the year. It also expects its operating profit to rise 27% to Y410 billion and revenue to gain 9.5% to Y3.810 trillion. Canon's quarterly net profit fell to Y61.17 billion, from Y61.44 billion, in the year-ago period. Its revenue dropped 1.4% to Y951.39 billion from Y964.76 billion, while operating profit declined to Y77.7 billion from Y94.61 billion.Canon shares closed at $36.30 yesterday.

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