Canon Inc. Reports Results for First Quarter 2003.Business Editors LAKE SUCCESS, N.Y.--(BUSINESS WIRE)--April 30, 2003 Canon U.S.A., Inc., a subsidiary of Canon Inc. (NYSE NYSE See: New York Stock Exchange : CAJ CAJ Canadian Association of Journalists CAJ Christliche Arbeiterjugend (German Young Christian Workers) CAJ China Academic Journals CAJ Christian Academy in Japan CAJ Canaima, Venezuela (Airport Code) - news) and a leader in imaging technologies, today announced Canon Inc. first quarter 2003 consolidated net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of 731.6 billion yen (US$ 6,096 million), which represents a year-over-year increase of 12.4% over the first quarter of fiscal year 2002. Canon reported first quarter net income of 71.6 billion yen (US$ 597 million), a significant increase of 126.2% over the same period last year and an earning per share Noun 1. earning per share - the portion of a company's profit allocated to each outstanding share of common stock net income, net profit, profit, profits, earnings, lucre, net - the excess of revenues over outlays in a given period of time (including depreciation of 81.57 yen (US$ 0.68). "Despite the harsh environment, Canon was able to exceed its original sales and profit projections, announced at the beginning of this year," said Toshizo Tanaka, Senior Managing Director and Group Executive for Finance and Accounting Headquarters, Canon Inc. "In addition, on a quarterly basis, we achieved an all-time-high for profit. Better-than-expected sales of laser beam printers and digital cameras along with the positive effects of ongoing management reformation activities, which have strengthened Canon's overall profit base, were major reasons for this favorable performance." For more detailed information and tables, please refer to our Announcement of First Quarter 2003 financial results at http://www.canon.com/finance/index.html. Canon U.S.A., Inc. delivers consumer, business-to-business, and industrial imaging solutions. The Company is listed as one of Fortune's Most Admired Companies in America, and is ranked #41 on the BusinessWeek list of "Top 100 Brands." Its parent company Canon Inc. (NYSE:CAJ) is consistently a top recipient of U.S. patents, ranking second overall in 2002, with global revenues of US$24.5 billion. Canon U.S.A. employs approximately 11,000 people at over 30 locations. For more information, visit www.usa.canon.com. This report may contain forward-looking statements which reflect management's current views with respect to certain future events and financial performance. Actual results may differ materially from those projected or implied in any forward-looking statements. Further, certain forward-looking statements are based upon assumptions of future events which may not prove to be accurate. (Cautionary Statements for Purposes of the Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Provisions of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995.) Note: In this release, U.S. dollar amounts are translated from yen at the rate of US$ = JPY JPY In currencies, this is the abbreviation for the Japanese Yen. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 120, the approximate exchange rate on the Tokyo Foreign Exchange Market as of March 31, solely for the convenience of the reader. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion