Canon had some good news and some bad news in its second quarter earnings released today. It seemed that the March earthquake and tsunami that hit Japan earlier this year is showing their impact on the economy of Japanese companies on paper.

On the upside, the company has raised its profit outlook for the rest of the year, and says that the recovery from the earthquake that forced it to halt camera production has been “quicker than expected.” That halt to production did take a considerable toll on the company, however, and contributed to a 20 percent drop in net profits to ¥53.86 billion, or $685.7 million, compared to a year ago — a figure that was compounded by a strong yen that further cut into its earnings overseas.

That revised profit outlook comes in part from an updated shipment forecast for interchangeable lens cameras — it now expects to ship 7.3 million instead of seven million, although its forecast for compact cameras remains unchanged at 20 million. Could that also include a few mirrorless models? Perhaps, although all indications are than an actual release will have to wait until sometime next year.

SOURCE via Canon