There’s not a whole lot to smile about if you’re holding on to a lot of Nikon stocks. The camera manufacturer posted their Q3 2011 earnings report this morning, but from the looks of it, they weren’t really doing a whole lot of earning.
Nikon’s reports revealed that they had to absorb a net loss from October to December of last year, which was due to the flooding in Thailand that damaged their manufacturing facility in Central Thailand’s Rojana Industrial Park.
Production was momentarily halted and Nikon promptly announced that they hoped to resume operations by March of this year.
Nikon’s reports indicated that they suffered a net loss of ¥3.7 billion for Q3. This is quite a dismal figure, as the cameramaker registered a net profit of ¥9.7 billion during the same period in 2010. To reflect the impact that Thailand’s flood had on their operations, Nikon said that it had booked a one-time loss amounting to ¥10.9 billion. Operating profits dropped to ¥8.2 billion from ¥18.6 billion a year earlier, while the firm’s revenues dipped 15% to ¥215.4 billion from ¥253.8 billion.