Canon Posts 0.4% Decline In Q4 Profit
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.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.