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Canon Reports Q3 Results: Sales of $5.6 Billion

Press release from the issuing company

LAKE SUCCESS, N.Y.--Oct. 29, 2002--Canon U.S.A., Inc., a subsidiary of Canon Inc. and a leader in imaging technologies, today announced Canon Inc. third-quarter consolidated net sales of 694.0 billion yen (US$ 5,642 million), which represents a year-on-year increase of 2.0% over the third quarter of 2001. Canon Inc. reported third-quarter net income of 57.5 billion yen (US$ 467 million), or 65.54 yen (US$ 0.53) per share, which represents a year-on-year increase of 53.4%. Operating profit advanced impressively to 92.7 billion yen (US$ 754 million), improving 21.5% over the third quarter of 2001. "Profits were raised by higher sales of laser beam printers and digital cameras and through further cost cutting. Our ability to maintain stable selling prices through the introduction of new products also supported profitability. Moving forward in the fourth quarter of 2002, sales and profits will be boosted mainly by a further expansion of digital cameras, growth in sales of laser beam printers, and strong sales growth for large screen LCD aligners, an area in which Canon is dominant," said Toshizo Tanaka, Senior Managing Director and Group Executive for Finance and Accounting Headquarters, Canon Inc

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