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

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.

Nikon posts Q3 2011 earnings, sees significant losses due to Thailand floods originally appeared on Engadget on Fri, 03 Feb 2012 03:15:00 EDT. Please see our terms for use of feeds.

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Source: http://www.engadget.com/2012/02/03/nikon-posts-q3-2011-earnings-sees-extraordinary-losses-due-to/

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