Canon’s net sales for the fourth quarter of 2011 reached ¥964.8 billion ($12.6 billion) — up from the ¥916 billion the company reported for the previous quarter, but down about 9.7 percent from Q4 2010.
Profit for the full fiscal year declined 2.4 percent to $4.9 billion, from the $5.1 billion earned in 2010.
In light of the results, Tsuneji Uchida stepped down from the presidency. He is replaced by chairman Fujio Mitarai.
The executive changes comes despite quarterly operating profit rising 14.2 percent on the year, to $1.2 billion.
The world’s largest camera maker projects net income to rise less than one percent in 2012, to 250 billion yen ($3.3 billion). However, sales of compact cameras may rise 17 percent to 22 million units, and Canon’s sales of interchangeable lens SLRs may rise 27 percent to 9.2 million units, according to Bloomberg’s news coverage.
More coverage is here.
Canon’s full report [pdf] is here.
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