Reuters: Olympus $410 mil loss

Started Feb 14, 2012 | Discussions thread
Wellington100 Forum Pro • Posts: 11,066
Re: Details

$8 Billion in debts is a lot of money to claw back

Cy Cheze wrote:

Here is the Olympus quarterly report:

The camera segment accounts for about 15% of sales. Operating losses for third quarter (December in Japan) $47 million or about 10% of sales. This is before apportioning expenses related to debt, executive overhead, or the writedown of the Kikuwaka bogus assets. The 3-month consolidated loss was $435 million. The book value of shareholder net worth was cut by over half. The banks and bondholders to whom Olympus owes some $8 billion will likely convert some debt to equity and write down other claims to realizable value. This won't happen without some pressure to cut losses, possibly by selling operations that don't produce.

The review of the OM camera will make intersting reading. If a winner, it may become an interesting collectors item, unless the buyer of the camera unit preserves the name and finds the sales volumes interesting enough to keep it in production. How many codgers with nostalgia for an old-look camera will open their wallets?

There may be cameras with an Olympus name for many years yet, just as there will be ones with the Kodak or Polaroid name, but consist mainly of budget P&S models. Or maybe, as in the case of Ricoh-Pentax, the buyer will decide to revamp the color and style dramatically.

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