Nikon’s profit up 33 percent
While Nikon saw an increase in their annual profits, it was a little lower than they had fore-casted.
Due to the success of their digital cameras and equipment, Nikon’s been making a lot of money, just not as much as they anticipated. Reuters has the story:
TOKYO (Reuters) - Japanese precision equipment maker Nikon Corp (7731.T: Quote, Profile, Research) said on Monday its annual profit rose 32.5 percent, thanks to sales of its advanced cameras and chip-making equipment, but its outlook missed forecasts.
Operating profit was 135.2 billion yen ($1.3 billion) in the year ended March 31, up from 102 billion yen a year earlier. That compares with a mean market estimate of 135.7 billion yen based on 17 brokerages surveyed by Reuters Estimates.
For the year started in April, Nikon forecasts profit to fall 3.8 percent to 130 billion yen while analysts predict an average 143.9 billion yen.
While this doesn’t seem to be any sort of disaster for Nikon or anything, I am curious how you could consider a 33 percent rise in profits somewhat of a disappointment. I guess that goes to show you how well the digital camera market is going right now. I wonder if Canon is getting nervous.