August 10, 2007 – Canon Inc. has announced its second quarter and first half financial results for 2007, reporting a 9.5 percent increase in sales over last year’s second quarter, from 1.028 trillion yen (approx. $8.72 billion USD) to 1.127 trillion yen (approx. $9.56 billion). First-half sales climbed 11 percent to 2.17 trillion yen, compared to 1.95 trillion yen for the first half of 2006.
Canon also reported a 17 percent jump in net income over the second quarter of 2006. Q2 2007 income totaled 123.9 billion yen, up from 105.9 billion yen in the second quarter of 2006. First-half net income figures totaled 255.18 billion yen compared to 214.17 billion yen in the first half of 2006.
Jumps in sales and net income can be attributed partly to a rise in demand for digital SLR cameras and lenses, as well as growth in the compact digital camera market.
“The EOS Digital Rebel XTi, launched in Sept. 2006, sold particularly well,” states the report. “As for compact digital cameras, the company strengthened its lineup with the launch of ten new models, including three stylish ELPH-series models and seven PowerShot-series models that cater to a diverse range of shooting styles.” Accordingly, digital camera unit sales jumped 20 percent as compared with the first half of 2006, and overall sales rose12.9 percent to 519.6 billion yen.
Earnings per share for the first half of 2007 equaled 194.33 million yen, compared to 160.79 million yen for the first half of 2006, a 20.9 percent change.
The company has lowered its net income forecast for the fiscal year 2007 from 505 to 500 billion yen, but lifted its sales forecast for the year from 4.54 to 4.58 trillion yen.
