WSJ - Nikon quarterly report

[psamson]

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I've included the URL, but you may need to be a paid subscriber to the Wall Street Journal (WSJ) to see the content. Highlights:
- revenue overall rose 6.4%
- revenue in the camera division rose 14%
- net profit fell 23%

"The company is slugging it out with Canon, which is expanding on sales to newly retired, deep-pocketed hobbyists and people who switch to digital cameras from traditional film. Each sale helps lock in future profit, as many customers also buy expensive interchangeable lenses.

But Nikon's drive to sell more cameras has come at a price. Despite the revenue boost, Nikon's operating profit slipped 21% to 28.7 billion yen, as selling, general and administrative costs grew 15% to 70 billion yen. The growth in costs was due partly to initial expenses involved in the launch of new products, such as its D700 single-lens-reflex digital camera, and advertising costs in the U.S."