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Olympus posts 2.15 bil. yen group net loss in April-June qtr+

Fri, 08/05/2011 - 1:46am
The Associated Press

Olympus Corp. said Friday it posted a 2.15 billion yen group net loss in the April to June quarter against a profit of 1.50 billion yen a year earlier on a sales fall attributable to the March 11 earthquake-tsunami disaster.

The maker of optics and reprography products said its group sales in the first quarter of fiscal 2011 dropped 3.6 percent to 198.57 billion yen, adding that the yen's appreciation against the dollar also contributed to the sales decline.

Consolidated operating profit in the three-month period dropped 60.0 percent to 4.46 million yen.

For the full business year ending next March, the company said it expects a group net profit of 18 billion yen, up 143.9 percent from the previous year, on projected sales of 900 billion yen, up 6.2 percent.

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