Reuters: Another Olympus lawsuit

Started 5 months ago | Discussions thread
jkoch2
Contributing MemberPosts: 728
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Claim equals 176% of what Oly projected for year's profits
In reply to Brian Wadie, 5 months ago

Brian Wadie wrote:

I see that Olympus are have already set aside $166 million and plan to set aside more from there profits for this year (their profitability seems to be holding up well)

The new Y23 billion claim exceeds the Y13 billion profit Olympus projected for all of the fiscal year that ended March 31.

Nearly all the profits come from endoscopes and other medical and surgical optics devices.

Losses on imaging (cameras) are narrowing, but losses nonetheless.

See pages 2 and 3 of the following:

http://www.olympus-global.com/en/common/pdf/financial146PB.pdf

The bottom line is somewhat muddled by charges associated with discontinuation of some business lines, as well as legal or other settlement charges.  However, if imaging is unprofitable before tabulating interest expense or restructuring costs, the business remains quite a challenge.

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