Latest in 2013 q1

Image credit:

Nikon makes $201 million quarterly profit, nearly 50 percent drop from last year, blames strong yen

Share
Tweet
Share

Sponsored Links

Nikon's odd financial calendar means that the camera maker is announcing its first quarter results for 2013. The confusingly-dated documents show that it isn't having the best Spring / Summer, since while it pulled in a net profit of $201 million, that figure is down nearly 50 percent on the $392 million it made in the same period last year. It sold a record number of interchangeable-lens cameras, lenses and a good number of compact cameras, but that was offset against the high cost of the yen.

Its other businesses, Precision Equipment and Instruments both suffered thanks to Government spending cuts, a "harsh business climate" and the now age-old problem of the high exchange rate. It's expecting the situation to remain the same in the next three months, with booming camera sales weight against losses in its other businesses -- with a projected profit of $143 million anticipated in Q3.

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.
Share
Tweet
Share

Popular on Engadget

Facebook inexplicably logs out iPhone users

Facebook inexplicably logs out iPhone users

View
Put Bernie Sanders almost anywhere with this Google Street View app

Put Bernie Sanders almost anywhere with this Google Street View app

View
Microsoft reverses Xbox Live price hike, will add free multiplayer for some games

Microsoft reverses Xbox Live price hike, will add free multiplayer for some games

View
Apple's Magic Keyboard for iPad drops to $199 at Amazon

Apple's Magic Keyboard for iPad drops to $199 at Amazon

View
The Morning After: Microsoft changed its mind about an Xbox Live price hike

The Morning After: Microsoft changed its mind about an Xbox Live price hike

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr