On January 31, Konica Minolta reported financial results for the third quarter and first nine months of its fiscal 2012, ended December 31, 2011. There were lowlights, to be sure, including a steep decline in net income for the first nine months of the year. But the company was also able to buck the trend of declining printer/MFP hardware sales. Konica Minolta indicates that while it had definitely been impacted by the year’s natural disasters, it has well managed issues with its supply chain, enabling hardware sales growth. As a result, the company maintained the most recent forecast it issued in October (see “Brother, Konica Minolta, Kyocera, and Ricoh Report First-Half Results, Lower Outlooks”).