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ddk
Guest
Here is an excerpt from Thom Hogan's analysis of Nikon's earnings - released yesterday...
http://www.bythom.com/
The bad news first: Precision is contracting fast. Nikon's current fiscal year estimate is that the Imaging division (cameras and lenses) will be 72% (!) of the overall corporate sales this year, and the only profitable (barely) unit. Also, Nikon is predicting first half Imaging sales well below that of last year (down 26%). Unit volumes of all items (DSLRs, lenses, Coolpix) is also expected to be lower for the first half of the year, but recover during the second half of their fiscal year (Ocober 2009 through March 2010). Ditto for sales and profits in the Imaging division.
The question, of course, is why the increase in the second half? Especially to the profitability. It doesn't seem to be "the economy will recover"--Nikon still remains pretty bearish regarding the overall economic situation, including the yen/dollar situation (yen starting to appreciate slightly again, which would reduce profits). I'd have to guess that it's high-end products. A D700x, D3s, strong D300s sales, plus three or four pro lenses would probably account for such an optimistic second half forecast.
Or its just wishful thinking for the stockholders benefit!