Canon Posts Rise In Quarterly Profit

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Canon Inc

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(NYSE: CAJ) reported a 6% gain in its net profit for the October-December quarter.The company's quarterly net profit surged to Y68.09 billion ($578 million), versus a year-ago profit of Y64.25 billion.Its sales gained 2.4% to Y1.060 trillion from Y1.035 trillion, while imaging system sales declined 3.4% in the quarter.Canon reported a net profit of Y254.80 billion on revenue of Y3.727 trillion for the full fiscal year ended in December.For the current business year, the company expects a net profit of Y260 billion on sales of Y3.9 trillion.Canon shares fell 0.81% to close at $33.00 yesterday.