Canon Q1 Profit Rises, Sales Down; Backs FY18 Forecast - Quick Facts

(RTTNews) - Digital camera maker Canon Inc. (CAJ) reported Wednesday that its first-quarter net income attributable to the company increased 3.7 percent to 57.11 billion yen or $538.80 million from last year's 55.09 billion yen.

Earnings per share increased 5 percent to 52.89 yen or $0.50 from 50.44 yen a year ago.

Net sales dropped 1.2 percent to 960.71 billion yen or $9.06 billion from prior year's 972.76 billion yen.

The company's first-quarter operating profit grew 5.3 percent from last year to 77.08 billion yen.

Looking ahead, for the full year, the company still projects consolidated net sales of 4.3 trillion yen, a year-on-year increase of 5.4%, and attributable net income of 280 billion yen, a year-on-year increase of 15.7%.