Canon Q3 Profit Surges; Backs FY21 Outlook - Quick Facts

(RTTNews) - Japan's Canon Inc. (CAJ) reported Tuesday that its third-quarter net income was 49.32 billion Japanese yen or $440.33 million, significantly higher than last year's 16.66 billion yen.

On a per share basis, earnings were 47.15 Yen or $0.42, up from 15.93 yen last year.

Operating profit was 58.73 billion Yen or $524.36 million, higher than 19.19 billion yen a year ago.

Third-quarter net sales grew 9.8 percent to 833.32 billion Yen or $7.44 billion from last year's revenues of 758.88 billion yen.

Looking ahead to the fiscal year 2021, Canon continues to expect attributable net income of 201.0 billion yen, a year-on-year increase of 141.2 percent. Full-year projection of operating profit is 272.0 billion yen, a year-on-year increase of 146 percent.

Sales are still expected to be 3.60 trillion yen, up 13.9 percent from last year.