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Nikon Reports Q1 Profit Surge

8/05/2010 09:53:29 AM Eastern

Tokyo - Nikon said Thursday
that strong camera sales and increased demand for machinery used in the
production of silicon wafers and LCD panels contributed to a more than 15
percent increase in operating profits for its fiscal first quarter.

The company reported an operating profit of 11.3 billion yen
($131 million) for the April to June period, compared with 730 million yen for
the same period last year.

Net profit was 8.15 billion yen ($95 million) in the period,
compared with a loss of 4 billion yen last year.

Sales of d-SLR and compact cameras rose 33 percent from a year
earlier to 4.5 million units, the company said.

Nikon benefitted from a strong uptick in demand in steppers and
scanners, which are expensive machines used to etch circuitry onto silicon
wafers and LCD panels.