Canon reports record results for fiscal year 2004 | PMA Report 2005
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PMA 2005 | Canon reports record results for fiscal year 2004
Canon reports record results for fiscal year 2004 : Canon U.S.A., Inc., a subsidiary of Canon Inc. and a leader in imaging technologies, today announced Canon Inc. fiscal-year 2004 consolidated net sales of 3,467.9 billion yen (US$ 33,345 million), which represents a year-over-year increase of 8.4% over fiscal year 2003. Canon reported 2004 net income of 343.3 billion yen (US$ 3,301 million), which represents a year-over-year increase of 24.5% and basic earnings per share of 387.80 yen (US$ 3.73).

Operating profit also advanced, improving 19.7% over fiscal year 2003. Canon reported fourth-quarter revenue of 981.1 billion yen (US$ 9,434 million), 9.6% higher than fourth quarter 2003 with net income of 80.8 billion yen (US$ 777 million), 7.8% higher than fourth quarter 2003.

"For the full-year, all of our core businesses realized sales growth. As a result, we achieved our fifth consecutive year of net sales and net income growth," said Toshizo Tanaka, Senior Managing Director and Group Executive for Finance and Accounting Headquarters, Canon Inc. Mr. Tanaka added, "We expect the positive momentum of core businesses to continue. This, combined with cost-cutting efforts, will improve our ability to respond to changes in the business environment, enabling us to achieve a sixth straight year of sales and profit growth."
Fujio Mitarai, President and CEO, Canon Inc.
Photo: Fujio Mitarai, President and CEO, Canon Inc.
Canon U.S.A., Inc. delivers consumer, business-to-business, and industrial imaging solutions. The Company is listed as one of Fortune's Most Admired Companies in America and is rated #35 on the BusinessWeek list of "Top 100 Brands." Its parent company Canon Inc. is a top patent holder of technology, ranking third overall in the U.S. in 2004, with global revenues of $33.3 billion.

This release may contain forward-looking statements with respect to future results, performance and achievements that are subject to risk and uncertainties and reflect management's views and assumptions formed by available information. All statements other than statements of historical fact are statements that could be considered forward-looking statements. When used in this release, words such as "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "project" or "should" and similar expressions, as they relate to Canon, are intended to identify forward-looking statements.

Many factors could cause the actual results, performance or achievements of Canon to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products by other companies, lack of acceptance of new products or services by Canon's targeted customers, inability to meet efficiency and cost reduction objectives, changes in business strategy and various other factors, both referenced and not referenced in this release. A detailed description of these and other risk factors is included in Canon's annual report on Form 20-F, which is on file with the United States Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. Canon does not intend or assume any obligation to update these forward-looking statements.

Note: In this release, U.S. dollar amounts are translated from yen at the rate of US$ = JPY104, the approximate exchange rate on the Tokyo Foreign Exchange Market as of December 30, 2004, solely for the convenience of the reader.
Related Canon links:
back to PMA report 2005
» Canon Fiscal-Year 2004 financial results
» Canon Digital Cameras overview
» Canon at Photokina 2004
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