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Technology Stocks : EFII - Electronics for Imaging
EFII 36.970.0%Jul 23 5:00 PM EST
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To: WTSherman who wrote (547)12/16/1997 8:42:00 PM
From: Holyman  Read Replies (1) of 1460
 
Norm and GWM: Here is one reason to be optimistic:

Earnings: Canon Expects Record High Pretax Profit In FY98

TOKYO (Nikkei)-Canon Inc. expects parent pretax profit in the year through December 1998 to climb 10% above its forecast of 145 billion yen for this fiscal year, to a third straight record high of about 160 billion yen, company sources said.

Fiscal 1998 sales are projected to climb to 1.63 trillion yen, 7% above a fiscal 1997 forecast of 1.52 trillion yen. This represents a slight slowdown from this year's 9% revenue growth, reflecting the depressed domestic economy, the sources noted. Copier sales, expected to rise at least 20% this year, are seen going up 10% next term. Sales of bubble-jet printers should recover as the firm introduces new models. Camera sales should continue double-digit growth next year thanks to robust sales of the IXY model.

Although sales are expected to jump next year, profit is seen rising only slightly, barring forex fluctuations, due to intensified global price competition.

The company calculates an average exchange rate of 125 yen to the U.S. dollar next year, compared with about 120 yen this year. This alone would contribute some 10 billion yen to operating profit, which is forecast to climb 8% to 170 billion yen.

Canon's reduction of interest-bearing liabilities should improve its balance of interest/dividend receipts minus payments. Pretax profit is expected to increase at least 10%.

nikkei.co.jp

God Bless
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