Olympus-new CEO and disappointing financial report

Started Feb 10, 2011 | Discussions thread
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MichaelKJ Veteran Member • Posts: 3,466
Olympus-new CEO and disappointing financial report

TOKYO, Feb 10 (Reuters) - Japanese camera and endoscope maker Olympus Corp (7733.T) said its next chief executive officer would be British-born Michael Woodford, 50, who oversaw a restructuring of the firm's European operations

Olympus on Thursday cut its operating profit forecast for the year ending in March by 9.4 percent to 48 billion yen ($582.8 million), as its digital camera business was hit by a strong yen and intensifying competition.

The revised forecast was below an average estimate of 49.6 billion yen in a poll of 14 analysts by Thomson Reuters I/B/E/S. ($1=82.36 Yen) (Reporting by Isabel Reynolds; Editing by Edmund Klamann

http://www.reuters.com/article/2011/02/10/olympus-idUSTOE71904620110210

Third quarter camera sales for 2010 were 36.9% below third quarter 20009 sales.

http://www.photoscala.de/Artikel/Olympus-Neuer-Chef-soll-es-richten

http://www.olympus-global.com/en/corc/ir/brief/pdf/n110210aE_n.pdf

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