KONICA MINOLTA FIRST-HALF NET INCOME DOWN 22%

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KONICA MINOLTA FIRST-HALF NET INCOME DOWN 22%

 user 2008-11-03 at 10:25:38 am Views: 55
  • #20696

    Konica Minolta first-half net income down 22%; cuts forecast
    Oct.  2008 — Konica Minolta Holdings Inc.said Thursday net income for the fist half ended Sept. 30 fell 22% because of softer corporate orders for copiers amid the global slowdown, a stronger yen, falling product prices and higher commodity prices. The Tokyo-based maker of copiers, cameras and electronic components said net income fell to 29.28 billion yen ($297.46 million) from 37.64 billion yen a year earlier. Sales were up 1.5% to 532.97 billion yen. Konica Minolta cut its net profit outlook by 40% to 42 billion yen from its May forecast of 70 billion yen. Sales for the fiscal year are expected at 1.04 trillion yen, compared to its earlier forecast of 1.11 trillion yen.