TOKYO--Canon Inc. (7751.TO) said Wednesday its second-quarter net profit fell 55.6% to 34.52 billion yen ($319.0 million) from a year earlier, due to weaker sales in digital cameras and office printers.
Net profit for the second quarter ended June missed the analyst consensus of Y48.68 billion provided by FactSet.
Sales for the imaging system business, which includes cameras, fell 18.5%, while sales for the office equipment business dropped 7.5%. Those declines far outweighed gains made in the medical equipments business, a new focus area for Canon.
Revenue fell 10.0% to Y905.87 billion in the second quarter, falling short of the consensus of Y929.87 billion. read the rest here