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[OM] Digital Earnings

Subject: [OM] Digital Earnings
From: Winsor Crosby <wincros@xxxxxxxxxxxxx>
Date: Mon, 11 Nov 2002 10:12:20 -0800

From Reuters:

Olympus Optical Co Ltd, the world's number two in digital camera sales, also raised its full-year earnings targets on Monday to 25 billion yen in net profit on 570 billion yen in revenues, compared with a prior forecast of a 20 billion yen net profit and 562 billion yen in sales.

Nikon's camera division, which accounts for more than half its sales, is expected to post a 29 billion yen operating profit this year, covering a projected 27 billion yen loss in steppers(a machine used in manufacturing microcircuits).

He added that despite clouds of uncertainty over the U.S. economy he did not see any signs of a slowdown in strong demand for digital cameras there, although the prospects of fighting in Iraq added to the uncertainty.

Nikon ranked sixth in unit sales of digital cameras worldwide last year but has broadened its product lineup after initially targeting the high end of the market.

The company is now gaining share in a market that looks set to grow by a hefty 50 percent this year despite a dull economy.


Forget film cameras.
--
Winsor Crosby
Long Beach, California


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