Olympus returns to profit *some folks will be disappointed*

Started Nov 12, 2012 | Discussions thread
Abrak
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Re: Olympus returns to profit *some folks will be disappointed*
In reply to YouDidntDidYou, Nov 12, 2012

YouDidntDidYou wrote:

Olympus returned to profit in the six months to the end of September.
The camera and medical equipment maker reported net profit of 8.02bn yen ($101m; £63m)
http://www.bbc.co.uk/news/business-20296030

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living life to the Four Thirds!
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I would think you would have to be taking an overdose of Prozac to get excited by those results. Just read the fine print....

The profit 8bn profit is entirely due to a 15.7bn profit on the sale of a business. Meanwhile they have revised down their forecasts of sales for the whole business for the full year by 163bn or 17.7%.

For the camera division its sales were down 22.4% in the first half of the year at 55 billion yen. Losses increased from 0.2bn last year to 4.4bn this year and losses also increased qoq. Olympus which was previously expecting an operating profit out of the division of 1bn (btw this is a long way from an actual profit at Olympus) and is now expecting losses of over 8bn yen.

For the full year Olympus reduced its operating income forecast by 12bn yen of which 9bn yen reduction was due to the camera division.

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