What to buy, and how to get the most from it.

Nikon posts Q3 2011 earnings, sees significant losses due to Thailand floods

Sponsored Links

Nikon posts Q3 2011 earnings, sees significant losses due to Thailand floods
Nikon posted its Q3 earnings report this morning, and there isn't a whole lot to smile about. The cameramaker had to swallow a one-off loss of ¥10.9 billion last quarter (approximately $143.1 million), due to widespread flooding that devastated its Thailand manufacturing plant, in October. Today's report comes just a day after Sony issued similarly dire figures, which it largely attributed to last year's flooding, as well. For the third quarter ended December 31st, Nikon posted a ¥3.7 billion loss (about $48.6 million), compared with the ¥9.7 billion ($127.3 million) it saw in net profits over the same period in 2010. Operating profits also fell to ¥8.2 billion from ¥18.6 billion in 2010, while total revenue dropped from ¥253.8 billion in Q3 2010 to ¥215.4 billion, last quarter. The company remains optimistic about the future, though, forecasting net gains of ¥55 billion this year, coupled with an expected revenue of ¥925 billion. For the full report, check out the source links below.
All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Popular on Engadget