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Canon Reports Q3 Double-Digit Gains

10/27/2010 11:48:59 AM Eastern

Tokyo - Canon reported
double-digit gains in net sales, operating profit and net income in the third
quarter ended Sept. 30.

Net sales were up 17.9 percent to
$10.87 billion compared with the prior year's third quarter, operating profit
was $1.24 billion up 74.1 percent and net income was up 85.6 percent to $811.8

In Canon's consumer business unit, sales volumes of such new
digital SLR cameras as the EOS Digital Rebel T2i (EOS 550D) and the
competitively priced EOS Digital Rebel T1i (EOS 500D), along with the EOS 5D
Mark II and EOS 7D advanced-amateur models, had sustained and healthy growth.

As for compact digital cameras, the Canon launched a new Elph
(IXUS)-series model and four new PowerShot-series models, boosting sales
volumes particularly in emerging markets. Consequently, sales volume for
digital cameras realized a year-on-year increase of 10 percent, Canon said.

With respect to inkjet printers, although sales displayed
solid growth, particularly in Asia, sales volume decreased slightly from the year-ago

Amid the strong yen environment, sales for the segment rose
3.3 percent year on year to $3.9 billion and 10.2 percent to $11.7 billion for
the first nine months.

Operating profit increased by 14.0 percent to $700 million
for the quarter, and by 59.7 percent to $2.06 billion for the nine-month
period, largely reflecting increased sales and the rise in the gross profit
ratio owing to the effects of cost reductions.

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