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Electronics Production | February 13, 2012

Olympus: Loss not related to scandal

Olympus has reported a net loss of 33.08 billion yen ($426 US million) and predicted a full year loss of 32 billion yen. The company said the losses are unrelated to the company’s recent scandals.
The financial report is the first since the company’s accounting scandal broke, in which the company admitted to hiding losses through questionable acquisitions.

Olympus reported that operating profit fell 19.0 percent on-year to 25.9 billion yen on sales of 624.6 billion yen for the nine months to December.

Operating profit in its medical systems business rose 7 percent year-on-year to 18.87 billion yen during the quarter, while the company's imaging systems division had a quarterly operating loss of 3.56 billion yen.

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Source: Reuters

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