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The Canon Australia Group reports 3Q financial results

  • 12 November, 2003 10:10

<p>Buoyant sales of personal and professional digital devices contribute to sustained revenue growth in Australia and New Zealand</p>
<p>(Please note: local release is followed by Canon Inc. announcement)</p>
<p>Sydney, 12 November 2003 - The Canon Australia Group today announced its financial results for the third quarter - July to September, 2003. Reflecting the long-term sustainability of Canon's competitive advantage, The Group reported its fifteenth consecutive quarter of year-on-year growth.</p>
<p>The Canon Australia Group, which consists of operations in Australia and New Zealand, reported net sales of $629.7 million for the September year-to-date. This represents revenue growth of 6.8 percent compared to the year-ago period.</p>
<p>The Group reported net sales of $222.5 million for the third quarter - a 9.4% increase over the year-ago period, and the result of accelerating demand across the Canon product range.</p>
<p>"Quarter upon quarter, Canon demonstrates its leadership across the imaging and information-management spectrum," said Mr Shuichi Tsukahara, Managing Director, Canon Australia Group. "With breakthrough products ranging from the first digital SLR under $2000 to the fastest A0-size printer on the market, Canon is clearly earning its impressive financial results."</p>
<p>Among Canon's products and solutions, there were many standout performers in the third quarter, including the Canon imageRUNNER iR C3200, which leads the growing colour networked office multifunction printer category thanks to its genuine best-of-class technology.</p>
<p>Sales of digital cameras, video cameras, colour printers and consumables also continued to surge for Canon, particularly in light of increasing growth in the direct print market.</p>
<p>About Canon
Canon Australia ( was established in Australia in 1978 and is a subsidiary of the US$24.5 billion Canon Inc. group. The company is an industry leader in professional and consumer imaging solutions with a comprehensive product line that includes: printers, scanners, fax machines, video cameras, cameras and lenses, video conferencing, image filing systems, networked multifunction devices, digital and analogue copiers (colour and black &amp; white). Canon Australia also operates its own lease finance service, Canon Finance Australia, which facilitates "one stop" shopping for customers wanting to lease or finance their equipment solutions. Canon Inc. is a top patent-holder of imaging technologies with a local R&amp;D centre - CISRA (Canon Information Systems Research Australia) - based in Sydney.</p>
<p>Media contacts:</p>
<p>Myrna Van Pelt
Hill &amp; Knowlton
02 9286 1282</p>
<p>John Papanidis
National Media Advisor
Canon Australia
02 9805 2054</p>
<p>Canon Inc. Reports Results For Third Quarter 2003</p>
<p>Lake Success, United States, 30 October 30 2003 - Canon U.S.A., Inc., a subsidiary of Canon Inc. and a leader in imaging technologies, today announced Canon Inc. third quarter 2003 consolidated net sales of 767.6 billion yen (US$6,915 million, or AU$9,900 million), which represents a year-over-year increase of 10.6% over the third quarter of fiscal year 2002.</p>
<p>Canon reported third quarter net income of 73.0 billion yen (US$658 million, or AU$900 million), a significant increase of 27.0% over the same period last year and an earning per share of 83.03 yen (US$0.75, or AU$1.08).</p>
<p>Operating profit advanced impressively to 125.6 billion yen (US$1,131 million, or AU$1,630 million), improving 35.4% over the third quarter of 2002.</p>
<p>"In the third quarter, Canon maintained momentum gained in the first half, achieving year-on-year sales and profit growth that even exceeded our own projections. Over the remaining three months of this year, barring any unexpected developments, we are set to record our fourth year of consecutive growth in revenue and profit," said Toshizo Tanaka, Senior Managing Director and Group Executive for Finance and Accounting Headquarters, Canon Inc.</p>
<p>For more detailed information and tables, please refer to our Announcement of Third Quarter 2003 financial results at</p>
<p>Note: In this release, US dollar amounts are translated from yen at the rate of US$ = JPY 111, the approximate exchange rate on the Tokyo Foreign Exchange Market as of September 30, 2003, solely for the convenience of the reader. Australia dollar amounts are translated from yen at the rate of AU$ = JPY 77 - again, solely for the convenience of the reader.</p>

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