Olympus has reported a 62% drop in profits in the first quarter compared to the same period last year, reports the PMA daily news. In the period April-June 2004, the Japanese company made a net profit of ¥1.06 billion ($9.5 m) compared to ¥403 million ($3.6 m) in the fiscal first quarter of this year. Despite disappointing figures the company still hopes to make a net profit of ¥23 billion ($206 m) in the year to March following its first ever consolidated net loss of ¥11.8 billion ($105 m) in 2004-2005.
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Olympus has reported a 62% drop in profits in the first quarter compared to the same period last year, reports the PMA daily news. In the period April-June 2004, the Japanese company made a net profit of ¥1.06 billion ($9.5 m) compared to ¥403 million ($3.6 m) in the fiscal first quarter of this year. Despite disappointing figures the company still hopes to make a net profit of ¥23 billion ($206 m) in the year to March following its first ever consolidated net loss of ¥11.8 billion ($105 m) in 2004-2005.