February 7, 2006 – Nikon is in a slump stock-wise today, despite a fair quarterly report. Nikon reported yesterday that its third-quarter profit boost was largely dependent on a weaker yen. Wall Street did not like that answer, apparently, nor did it like the news that Morgan Stanley has recommended a general dump of Japanese holdings.
Nikon did report yesterday an operating profit of more that $166 billion dollars, a triple profit in comparison to 2004. Their net income has reportedly fallen a total of 7 percent.
The digital imaging sector of the company, however, was able to report increased sales of digital cameras and lenses for the 3rd quarter. They are doing particularly well in the sales of DSLRS.
Nikon has raised its yearly profit prediction up to 18%, based on their faith of success in their digital camera and chip equipment products.