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Posts Tagged ‘Financial’

f11 Magazine is suspending publication due to financial troubles

15 Aug

Photography publication f11 Magazine is being suspended, perhaps permanently, due to trouble funding the endeavor using its current advertising strategies. Subscribers have been alerted to the pending closure via an email, which explains that, “the concept of a magazine free to readers and funded entirely by advertising support proved much more difficult to sustain as a business proposition.” The publication hopes to return in the future if an adequate solution is found.

f11 Magazine was founded in 2011 as a publication that focuses on photos rather than gear; a magazine that was free to download with all revenue coming from advertising. As spelled out in the email, however, this business model simply hasn’t been sustainable for the magazine. Until such a time when an alternative is found—if one is found—the magazine will not produce any new issues. If the magazine does return, it may differ from its current presentation.

You can read the full email text below:

An update for our subscribers…

After six years and 66 issues of publishing f11 Magazine, I have made the incredibly difficult decision to place the magazine in suspension. There are no new issues planned at this stage.

The idea of a magazine about photography and photographers – rather than cameras and accessories – found a loyal and appreciative audience around the world. I like to think that our approach was more cerebral than many other titles, and that we were able to rise above the perils of pixel peeping, equipment worship, and the banal. Our mission was to expose the work of photographers, display their collections, and describe their personal journeys. We were never short of content as we made the world our home.

Unfortunately, the concept of a magazine free to readers and funded entirely by advertising support proved much more difficult to sustain as a business proposition. I’m investigating other options to keep the title alive in some form, but this will take time and dialogue with others – hence the decision to suspend publication at this point. It’s my hope that a successful outcome from one of these conversations will expose the magazine to a much larger potential audience, while at the same time ensuring its financial viability with a new business model.

If you have been a reader, a commercial supporter, or simply a believer in our approach to content and community I thank you sincerely for your encouragement and participation. I know not what the future holds for f11 Magazine, for photographers and aficionados, but I’m personally proud of the content and quality that a small team has been able to produce consistently. We’ve been on time, on topic, and appreciated for 66 consecutive issues – and that’s no small achievement.

Once we have a meaningful update to share, I’ll be sure to let you know. Equally, if you have any thoughts that you’d like to share with me, please feel free to get in touch: feedback@f11magazine.com.

Kind regards, Tim

Articles: Digital Photography Review (dpreview.com)

 
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Sony financial report tops estimates thanks to smartphone sensors and earthquake recovery

02 Aug

The fortunes of Sony’s camera division have taken a turn for the better with a rise in first quarter sales and operating income for the period to June 30th. The company states in its latest financial report that higher value still and video cameras have helped it to achieve 27.3% year-over-year growth; however, that figure is inflated in part because the business was suffering the crippling effects of the Kumamoto earthquake this time last year.

Insurance payments from the earthquake have also artificially boosted operating income in both the camera and sensor businesses, with a 15.7 billion yen increase to 23.2 billion (an increase of 209%) in the camera sector and more than 41% growth in income for the sensor business compared to last year, thanks to booming smartphone sensor sales.

In fact, according to Bloomberg, as many as half of the world’s phones currently house Sony sensors. When you multiply that by as many as three sensors per phone—dual cam on the back, one on the front—you begin to understand that 41% growth figure.

Forecasts for the fiscal year ending March 2018 have been revised upwards for the imaging business, with sales expected to hit 650 billion against this year’s 579 billion. Sales of semiconductors are also expected to grow from this year’s 773 billion to 860 billion yen.

For more information see the Sony financial report on the company website.

Extracts from report:

Imaging Products & Solutions (IP&S)

Sales increased 27.3% year-on-year (a 26% increase on a constant currency basis) to 155.6 billion yen. This significant increase in sales was mainly due to the absence of the impact from the 2016 Kumamoto Earthquakes in the same quarter of the previous fiscal year as well as an increase in unit sales and an improvement in product mix reflecting a shift to high value-added models, both in Still and Video Cameras.

Operating income increased 15.7 billion yen year-on-year to 23.2 billion yen.
This significant increase was mainly due to the impact of the above-mentioned significant increase in sales, partially offset by an increase in selling, general and administrative expenses. Operating income for the current quarter included the above-mentioned 2.6 billion yen in insurance recoveries related to the 2016 Kumamoto Earthquakes. During the current quarter, there was no material impact from foreign exchange rate fluctuations.

Semiconductors

Sales increased 41.4% year-on-year (a 38% increase on a constant currency basis) to 204.3 billion yen. This increase was primarily due to a significant increase in unit sales of image sensors for mobile products, as well as the absence of the impact of a decrease in image sensor production due to the 2016 Kumamoto Earthquakes in the same quarter of the previous fiscal year, partially offset by asignificant decrease in sales of camera modules, a business which was downsized.

Operating income of 55.4 billion yen was recorded, compared to an operating loss of 43.5 billion yen recorded in the same quarter of the previous fiscal year. This significant improvement in operating results was primarily due to the impact of the above-mentioned increase in sales, the above-mentioned 27.5 billion yen gain resulting from the sale of the entire equity interest in SEH, and 6.7 billion yen in insurance recoveries related to the 2016 Kumamoto Earthquakes, as well as the absence of the 20.3 billion yen impairment charge against long-lived assets for camera modules and the net charges of 13.6 billion yen for expenses resulting from the 2016 Kumamoto Earthquakes recorded in the same quarter of the previous fiscal year. During the current quarter, there was a 2.5 billion yen positive impact from foreign exchange rate fluctuations.

Articles: Digital Photography Review (dpreview.com)

 
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Canon boosts 2017 profit forecast following strong Q1 financial results

27 Apr

Canon’s recent acquisition of Toshiba’s medical equipment unit has helped spur strong first fiscal quarterly financial results for the camera company, and as a result it has increased its full 2017 operating profit forecast. In January, Canon estimated that it would see a yearly profit of 255 billion Yen; following the favorable Q1 2017 results, the company now estimates the profits will be higher at 270 billion Yen. However, the company’s outlook on 2017 camera unit sales are gloomier, with ILC unit sales dropping 7% and compacts down 13%, working out to -9% overall.

Overall, the company saw a year-on-year Q1 operating profit increase of nearly 89%, rising from 40.09 billion Yen in Q1 2016 to 76.67 billion Yen this past first quarter. According to Reuters, Canon Executive VP and CFO Toshiz Tanaka stated during the company’s earnings conference that mirrorless cameras are helping drive the company’s camera sales. The company’s financial report notes that ‘healthy demand’ for Canon’s EOS 5D Mark IV has helped drive the company’s interchangeable lens camera sales. First quarter revenue from camera sales were up over 7%, though unit sales were unchanged since Q1 2016.

Canon likewise saw its compact-system cameras’ sales increase in Europe and Asia (6% globally), and though overall digital compact camera sales volume dropped in the last quarter, Canon says the PowerShot G-Series and other ‘high-value-added models’ experienced ‘solid demand.’ Things aren’t looking great for the digital compact camera market overall, where Canon sees sustained market contraction for its budget-tier models (-6% globally). However, developed countries’ decreased demand for interchangeable lens digital cameras is ‘decelerating steadily,’ the company says. 

Canon also touched on the topic of last year’s Kumamoto earthquake damage, saying that the resolution of the shortages caused by the earthquake have resulted in ‘temporary moderate growth’ for interchange lens digital cameras. 

Via: Reuters, Canon 1, 2

Articles: Digital Photography Review (dpreview.com)

 
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Sony posts significant imaging division income gains in 2015 financial year-end report

03 May

There’s plenty of bad news going around the camera industry lately. Companies once flush with cash from compact camera sales are now struggling to keep sales even. But despite the downward trend on a lot of camera manufacturers’ books, Sony is coming through with some positive numbers. In its latest year-end financial report, the company boasts a 30.4 billion yen increase in operating income for its imaging products division, despite a 1.7% year-on-year decrease in sales.

It’s a familiar story – Sony attributes the gain in income to a more favorable mix of high-value products, no doubt including its full-frame mirrorless line and premium RX-series compacts. Cost-reduction measures are also cited as contributing to the income gains. And though the upward trend is no doubt good for Sony, those numbers aren’t quite as impressive as they seem at first glance. The imaging division’s 2014 figures were hit by significant restructuring charges, bringing down the bottom line by 7.3 billion yen by the end of the year.

Even taking into account last year’s mark-down, Sony has put up some very strong numbers for its imaging products in 2015’s financial year.

Articles: Digital Photography Review (dpreview.com)

 
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Sony’s latest financial results show camera unit sales down, operating income up

30 Oct

Sony has released its Q2 2015 financial results, posting a 3% decline year-on-year in imaging product sales on a constant currency basis. However, demand for high-value added models, favorable exchange rates and internal cost reductions led to a bump in that group’s operating income – up to 25.9 billion yen compared to 20.1 billion this time last year. Read more

Articles: Digital Photography Review (dpreview.com)

 
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Canon’s Q3 financial results show increased profit, decline in ILC sales volume

29 Oct

Canon’s Imaging Systems business has reported its third quarter sales fell by ¥26.5bn ($ 220m), compared to the same time last year. The company blamed a decline in worldwide demand for its interchangeable lens cameras ‘due to market shrinkage,’ with unit sales down 17% year-on-year, despite sales increases in Japan and Europe. Read more

Articles: Digital Photography Review (dpreview.com)

 
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GoPro points to increased costs as it reports deeper losses in financial results

06 Aug

Despite the ubiquity of GoPro’s diminutive ‘action cam’ video solutions, the company has reported a loss of $ 19.8 million for the second quarter following an additional loss of $ 5.1 million from the year prior. GoPro first went public in June of this year, and while shares have dropped a whopping 11-15% following the financial results, everything is not necessarily doom and gloom for the company. Read more

Articles: Digital Photography Review (dpreview.com)

 
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[MODIFIED] Digital Urban and Cityscape Photography – Look Outside the Main Business / Financial District

01 Aug

Step outside of a city’s main district for some of the best skyline digital photos opportunities.

Instead of taking the usual cityscape photos while inside the main Financial or Business Districts, you may want to scout out areas outside of the main ‘hustle and bustle’ to take wide-angle skyline photos that showcase more of a city’s architecture.

In Chicago, instead of just taking Loop pictures from the Chicago River and other well-photographed vantage points, consider heading out to Navy Pier to take a cityscape photo on the lakefront. Or, another great photo opportunity is north at Lincoln Park; shoot south, towards the skyscrapers, and part of Lake Michigan will be in view….

Read more at MalekTips.
New Computer and Technology Help and Tips – MalekTips.Com

 
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Sites to Browse – Money – Financial – The Economics of Seinfeld

19 Dec

Learn about monopoly power as Kramer tries to sneak coffee into a movie theatre.

In today’s hard economic times you’ve probably been bored to tears hearing about economic terms such as nominal exchange rates, financial intermediation, and the depreciation of capital.

What better way to understand economic terms than to watch classic Seinfeld clips? That is exactly what Professor Linda S. Ghent, Associate Professor Alan Grant, and Assistant George Lesica of Eastern Illinois and Baker Universities thought. These educators have combined videos of Jerry, George, Elaine, and Kramer, so by watching them talk to a lawyer about spilled coffee, try to find an automobile in a huge parking garage, and discuss a “big salad”, you may learn economic concepts such as comparative advantage, opportunity cost, and rate of time preference….

Read more at MalekTips.
New Computer and Technology Help and Tips – MalekTips.Com

 
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