Latest in Business

Image credit:

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

Amar Toor, @amartoo
02.03.12
Share
Tweet
Share

Sponsored Links

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.
Share
Tweet
Share

Popular on Engadget

Xbox One gets another simplified dashboard redesign

Xbox One gets another simplified dashboard redesign

View
Samsung's new chips usher in smartphones with 16GB of DRAM

Samsung's new chips usher in smartphones with 16GB of DRAM

View
Lenovo ThinkPad refresh offers 10th-gen Intel CPUs and AMD's Ryzen 4000 Pro

Lenovo ThinkPad refresh offers 10th-gen Intel CPUs and AMD's Ryzen 4000 Pro

View
Ultimate Ears' Hyperboom speaker is a portable party powerhouse

Ultimate Ears' Hyperboom speaker is a portable party powerhouse

View
What's on TV this week: 'Knives Out' and 'Altered Carbon'

What's on TV this week: 'Knives Out' and 'Altered Carbon'

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr