Canon Q1 2017 Results: Canon Raises Annual Profit Outlook

[Canon Rumors Guy]

<strong>From Reuters:</strong></p>
<p>Japan’s Canon Inc on Wednesday lifted its full-year operating profit forecast after reporting strong first-quarter results on the back of earnings from a medical equipment unit it bought from Toshiba Corp last year.</p>
<p>The camera and printer maker forecast profit of 270 billion yen ($2.43 billion), up from 255 billion yen estimated in January. It reported profit of 228.9 billion in the previous twelve months.</p>
<p>The upbeat outlook suggests Canon’s strategy to diversify has begun to reward the company after the $5.8 billion acquisition of the Toshiba unit and the $2.8 billion takeover of Swedish video-surveillance firm Axis AB.</p>
<p><em><strong>Canon also said the two existing businesses that have long dragged its earnings – laser printers and cameras – are also showing signs of bottoming out</strong></em>.</p>
<p>A recovery in the Chinese and other emerging economies is pushing up demand for laser printers, while continued popularity of so-called mirrorless cameras is driving camera sales, Executive Vice President and Chief Financial Officer Toshizo Tanaka said at an earnings briefing.</p>
<p>For the January-March quarter, Canon said operating profit jumped 88.8 percent to 75.67 billion yen from 40.09 billion yen a year earlier. <a href="http://www.reuters.com/article/us-canon-results-idUSKBN17S0II?type=companyNews">Read the full story</a></p>
<span id="pty_trigger"></span>

 

[Too_Many_Hobbies]

"The camera and printer maker forecast profit..."

followed by

"Canon also said the two existing businesses that have long dragged its earnings – laser printers and cameras... "

Sounds a bit concerning

Hopefully they are cleaning up in inkjet sales or something.

 

[rrcphoto]

Wow.

has anyone else looked at the presentation materials? for shame CR.. this is some pretty awesome canon news.

http://www.canon.com/ir/conference/pdf/conf2017q1e.pdf


ILC unit sales +6% over 1Q 2016.
Camera $ sales +10% (forex adjusted) over 1Q 2016.

Camera unit sales including compacts are flat 0% unit change from last year.

that should concern every company not named Canon.

"The interchangeable-lens camera market in developed countries continued to recover from last year’s
earthquake. In emerging markets, we also saw an easing in market contraction, particularly in China.
Against this backdrop, we expanded sales of the EOS 5D Mark IV, which captures customer demand
for such features as high-speed AF and 4K video recording.

Additionally, in Asia, where mirrorless cameras make up a large percentage of the
interchangeable-lens camera market, we expanded our lineup, broadened our sales channel beyond
camera specialty shops, and strengthened our advertising activity. As a result, we exceeded our unit
sales and market share of last year.

On top of this, this quarter, we launched our new products earlier than usual. As a result, our unit
sales increased 6% to 1.08 million units."

Canon's current marketshare is 40% however that is SOLD versus SHIPPED numbers.

 

[privatebydesign]

Wow.

has anyone else looked at the presentation materials? for shame CR.. this is some pretty awesome canon news.

http://www.canon.com/ir/conference/pdf/conf2017q1e.pdf


ILC unit sales +6% over 1Q 2016.
Camera $ sales +10% (forex adjusted) over 1Q 2016.

Camera unit sales including compacts are flat 0% unit change from last year.

that should concern every company not named Canon.

Don't be ridiculous, we don't need to read facts that might contradict our opinions, Canon is doomed if it doesn't release a ff mirrorless within the next few weeks. That is a real fact.
:

 

[rrcphoto]

clearly canon is DOOMED. increasing their unit sales over a year ago is disastorious.

posting an 88% profit gain for the entire company - shut'er down!

 

[romanr74]

before people freak out:
imaging system sales of 1Q17 was a tad higher than 1Q16
it was lower than any other quarter since at least 7 years

 

[rrcphoto]

before people freak out:
imaging system sales of 1Q17 was a tad higher than 1Q16
it was lower than any other quarter since at least 7 years

your comment makes no sense.

how could you post a 10% YoY higher camera sales and a 6% higher ILC unit sales and be less than any quarter the past 7 years. when obviously even an idiot could see you were higher than the 1Q 2016...

Also since 1Q 2016 posted a 0% unit sales gain over 1Q 2015, this means that 1Q 2017 was larger than 1Q 2016 and 1Q 2015.

http://www.canon.com/ir/conference/pdf/conf2016q1e.pdf

Even if you for some reason went on value sales. the Forex adjusted difference is still in favor of the 1Q 2017 being up by 10% verus down 8% in 2016.

you have to go back to 2015 which is 2 years ago to see where this quarter was not ahead.

Well, news flash, the entire freaking market was contracting rapidly then.

troll harder? troll wiser?

 

[romanr74]

before people freak out:
imaging system sales of 1Q17 was a tad higher than 1Q16
it was lower than any other quarter since at least 7 years

your comment makes no sense.

how could you post a 10% YoY higher camera sales and a 6% higher ILC unit sales and be less than any quarter the past 7 years. when obviously even an idiot could see you were higher than the 1Q 2016...

Also since 1Q 2016 posted a 0% unit sales gain over 1Q 2015, this means that 1Q 2017 was larger than 1Q 2016 and 1Q 2015.

http://www.canon.com/ir/conference/pdf/conf2016q1e.pdf

Even if you for some reason went on value sales. the Forex adjusted difference is still in favor of the 1Q 2017 being up by 10% verus down 8% in 2016.

you have to go back to 2015 which is 2 years ago to see where this quarter was not ahead.

Well, news flash, the entire freaking market was contracting rapidly then.

troll harder? troll wiser?

read my post again. slowly...

 

[rrcphoto]

before people freak out:
imaging system sales of 1Q17 was a tad higher than 1Q16
it was lower than any other quarter since at least 7 years

your comment makes no sense.

how could you post a 10% YoY higher camera sales and a 6% higher ILC unit sales and be less than any quarter the past 7 years. when obviously even an idiot could see you were higher than the 1Q 2016...

Also since 1Q 2016 posted a 0% unit sales gain over 1Q 2015, this means that 1Q 2017 was larger than 1Q 2016 and 1Q 2015.

http://www.canon.com/ir/conference/pdf/conf2016q1e.pdf

Even if you for some reason went on value sales. the Forex adjusted difference is still in favor of the 1Q 2017 being up by 10% verus down 8% in 2016.

you have to go back to 2015 which is 2 years ago to see where this quarter was not ahead.

Well, news flash, the entire freaking market was contracting rapidly then.

troll harder? troll wiser?

read my post again. slowly...

I did: "it was lower than any other quarter since at least 7 years"

which is incorrect because it was higher than 1Q 2016 and 1Q 2015.

perhaps re-read the response. slowly and with an english dictionary.

 

[romanr74]

before people freak out:
imaging system sales of 1Q17 was a tad higher than 1Q16
it was lower than any other quarter since at least 7 years

your comment makes no sense.

how could you post a 10% YoY higher camera sales and a 6% higher ILC unit sales and be less than any quarter the past 7 years. when obviously even an idiot could see you were higher than the 1Q 2016...

Also since 1Q 2016 posted a 0% unit sales gain over 1Q 2015, this means that 1Q 2017 was larger than 1Q 2016 and 1Q 2015.

http://www.canon.com/ir/conference/pdf/conf2016q1e.pdf

Even if you for some reason went on value sales. the Forex adjusted difference is still in favor of the 1Q 2017 being up by 10% verus down 8% in 2016.

you have to go back to 2015 which is 2 years ago to see where this quarter was not ahead.

Well, news flash, the entire freaking market was contracting rapidly then.

troll harder? troll wiser?

read my post again. slowly...

I did: "it was lower than any other quarter since at least 7 years"

which is incorrect because it was higher than 1Q 2016 and 1Q 2015.

perhaps re-read the response. slowly and with an english dictionary.

really? did you forget line 2 when arriving at line 3?

also i see
- 1Q15: 263
- 1Q16: 235
- 1Q17: 242

 

[neuroanatomist]

read my post again. slowly...

It's not the reading speed, it's your ambiguous use of a pronoun, poor grammar, and choice to eschew constructing a proper sentence.

Write your post again, slowly and properly.

before people freak out:
imaging system sales of 1Q17 was a tad higher than 1Q16
it was lower than any other quarter since at least 7 years

The way your post is written, the highlighted 'it' appears to refer to 1Q17, in which case you are wrong.

If what you actually meant was, "Imaging system sales of 1Q17 were a tad higher than 1Q16, which were lower than any other quarter in at least 7 years," than that statement appears to be correct. But that's not what you wrote. So rather than blaming others for your shortcomings, try phrasing things clearly.

 

[romanr74]

read my post again. slowly...

It's not the reading speed, it's your ambiguous use of a pronoun, poor grammar, and choice to eschew constructing a proper sentence.

Write your post again, slowly and properly.

before people freak out:
imaging system sales of 1Q17 was a tad higher than 1Q16
it was lower than any other quarter since at least 7 years

The way your post is written, the highlighted 'it' appears to refer to 1Q17, in which case you are wrong.

If what you actually meant was, "Imaging system sales of 1Q17 were a tad higher than 1Q16, which were lower than any other quarter in at least 7 years," than that statement appears to be correct. But that's not what you wrote. So rather than blaming others for your shortcomings, try phrasing things clearly.

Wow. "It" refers to 1Q17 indeed. Which was lower than any quarter since 7 years, with the exception of 1Q16. We can have that conversation in my mother tongue if you prefer. I believe it would take little intelligence and or good will to understand what i meant. but both intelligence and good will obviously cannot be taken for granted here...

 

[rrcphoto]

really? did you forget line 2 when arriving at line 3?

also i see
- 1Q15: 263
- 1Q16: 235
- 1Q17: 242

wait you were talking bout the imaging division sales and not including ForEX. So it's meaningless in the context of this conversation because it includes ink jet printers and doesn't include any averaging for variation of foreign exchange.

I honestly don't know what to say that doesn't get me a 24 hour ban.

so when the news was good, and OBVIOUSLY good - you had to go out of your way to find something negative, which is entirely meaningless to this conversation. I guess you're just one of those "special" people.

 

[romanr74]

really? did you forget line 2 when arriving at line 3?

also i see
- 1Q15: 263
- 1Q16: 235
- 1Q17: 242

wait you were talking bout the imaging division sales and not including ForEX. So it's meaningless in the context of this conversation because it includes ink jet printers and doesn't include any averaging for variation of foreign exchange.

I honestly don't know what to say that doesn't get me a 24 hour ban.

so when the news was good, and OBVIOUSLY good - you had to go out of your way to find something negative, which is entirely meaningless to this conversation. I guess you're just one of those "special" people.

i don't understand why you have to get so emotional about that... when you currency adjust camera sales only then yes 1Q17 appears to be slightly above 1Q15. in reported currency it is below. this might be the start of a change in trend. but isn't it a little short of a trend to declare victory... is my reply really worth words like idiot, troll, etc.

 

[neuroanatomist]

"It" refers to 1Q17 indeed. Which was lower than any quarter since 7 years, with the exception of 1Q16.

Then why didn't you say so in the first place? :

...you had to go out of your way to find something negative, which is entirely meaningless to this conversation

Not the first time...

 

[rrcphoto]

cameras have been in a freefall - for all manufacturers, this is the 5th quarter in the row where canon has increased it's YoY % or been damned close, which shows the trends are stabilizing for the industry. this is kind of good news.

1Q 2015 - -22%
2Q 2015 - -9%
3Q 2015 - -17%
4Q 2015 - -5%
1Q 2016 - 0%
2Q 2016 - -1%
3Q 2016 - +8%
4Q 2016 - +1%
1Q 2017 - +6%

 

[romanr74]

cameras have been in a freefall - for all manufacturers, this is the 5th quarter in the row where canon has increased it's YoY % or been damned close, which shows the trends are stabilizing for the industry. this is kind of good news.

1Q 2015 - -22%
2Q 2015 - -9%
3Q 2015 - -17%
4Q 2015 - -5%
1Q 2016 - 0%
2Q 2016 - -1%
3Q 2016 - +8%
4Q 2016 - +1%
1Q 2017 - +6%

I understand these are ILC units numbers. I don't disagree it's a positive sign these stabilized.

 

[rrcphoto]

Olympus as an example just posted a great increase in op profit (700% or something like that), but digging into their unit numbers ..

they sold 177,000 that quarter, against 183,000 the YoY past. -3.3%

 

[neuroanatomist]

Olympus as an example just posted a great increase in op profit (700% or something like that), but digging into their unit numbers ..

they sold 177,000 that quarter, against 183,000 the YoY past. -3.3%

Operating profit = gross profit – operating expenses. So higher operating profit can come from higher revenues or lower expenses (e.g. layoffs, factory closings, 'restructuring', etc.).

 

[rrcphoto]

Olympus as an example just posted a great increase in op profit (700% or something like that), but digging into their unit numbers ..

they sold 177,000 that quarter, against 183,000 the YoY past. -3.3%

Operating profit = gross profit – operating expenses. So higher operating profit can come from higher revenues or lower expenses (e.g. layoffs, factory closings, 'restructuring', etc.).

yes. my poiont was that even with no excuses (delayed sensors,etc) the same quarter, that canon posted a +6% growth, olympus posted a -3.3% loss in units.

we'll never know what Sony reports because sony never does.

I find it curious that canon took unit sales away from Olympus.