(RTTNews) - Japanese imaging equipment maker Canon Inc. (CAJ) reported Thursday that its third-quarter net income attributable to the company was 62.13 billion Japanese yen or $414.23 million, up 14.8 percent from last year's 54.12 billion yen.
On a per share basis, earnings were 62.62 Yen or $0.42, compared to 52.88 yen last year.
Operating profit grew 1.5 percent to 82.62 billion Yen or $550.83 million from 81.44 billion yen last year.
Net sales for the quarter increased 3 percent to 1.03 trillion yen or $6.84 billion from last year's revenues of 996.09 billion yen, due to solid demand for network cameras and other new businesses.
Looking ahead for fiscal 2023, Canon trimmed its forecast for consolidated net sales to 4.22 trillion yen from previously expected 4.36 trillion yen. The revised outlook represents a year-on-year increase of 4.7 percent, and the revision was mainly due to the market slowdown in China.
Further, Canon continues to expect operating profit of 400.0 billion, a year-on-year increase of 13.2 percent; and net income attributable to Canon of 292.0 billion yen, a year-on-year increase of 19.7 percent.
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