Japanese industrial giant Canon has released financial results for the third quarter of 2019 that showed revenues in its Canon Medical Systems growing amid recovery in Japan and other markets.
For the quarter (end-September 30), Canon Medical Systems posted revenues of $1.046 billion, up 5.9% compared with revenues of $989 million in the same quarter of 2018. Income before taxes grew 17.2% to $87.3 million.
For the first nine months of 2019, the medical division recorded sales of $3.017 billion, up 2.9% compared with $2.934 billion in the same period of 2018. The division's income before taxes year to date fell 5.1% to $179.1 million.
In discussing the results, the company said that the medical division benefited from a recovery in the market for medical equipment in Japan, while demand grew moderately in other markets, mostly in developed countries. Sales were solid in Europe and some emerging countries, Canon reported.
On a modality basis, Canon singled out growth in CT and diagnostic ultrasound, with CT showing particular growth in Europe.
