Olympus projecting US $412 million loss this year

[mhobart]

Reuters and other sources are carrying the report that Olympus is projecting a loss of US $412m this year, with most of the loss attributed to their camera business :-(

[Ian]

I have posted a story here: http://fourthirds-user.com/2012/02/r...at_olympus.php

In actual fact the loss is mostly down to revised accounting after the financial scandal broke in October.

For the final quarter of 2012 the medical imaging division made an operating profit of 18bn yen while the rest of the company lost about 10 billion, which is about £82m or $129m and the camera division is probably only responsible for part of that.

Ian

[mhobart]

Originally Posted by Ian

I have posted a story here: http://fourthirds-user.com/2012/02/r...at_olympus.php

In actual fact the loss is mostly down to revised accounting after the financial scandal broke in October.

For the final quarter of 2012 the medical imaging division made an operating profit of 18bn yen while the rest of the company lost about 10 billion, which is about £82m or $129m and the camera division is probably only responsible for part of that.

Ian

Thanks :-) I had just seen additional articles putting much of the loss on continued writedowns of assets, which agrees with your comments.