Olympus shows gains in first half financials
Olympus has released its Q2 results for the financial year ending March 2016, showing some positive growth in OM-D and PEN series camera sales in Japan and Europe. Net sales for the imaging systems group amounted to ¥41.5bn (about $385 million) for the first half of the year, a 10.2% increase year-on-year (YOY). The second quarter alone amounted to a slightly less impressive 5% growth in net sales YOY. Compared to last year's 6-month operating income loss of ¥3.7bn, a first-half ¥20 million operating income is good news, though only equals about $160,000.
The company attributes the turnaround to increased OM-D sales in Japan and Europe and a boost from sales of premium M.Zuiko Pro lenses. A continued reduction in compact camera models has helped curb the damage done by a quickly shrinking market. Olympus' net sales of compacts in the first half are down 11% compared to last year, while mirrorless sales are up 22%.