Olympus returns to profit in April-Sept


Posted at Nov 12 2012 03:42 PM | Updated as of Nov 12 2012 11:42 PM

TOKYO - Olympus Corp. said Monday it returned to the black in the April-September period, posting a group net profit of 8.02 billion yen, compared with a loss of 32.33 billion yen a year earlier, due mainly to robust performance in its medical business.

In the first half of financial 2012, the Japanese camera and medical equipment maker said its consolidated operating profit rose 2.9 percent to 18.04 billion yen on sales of 405.76 billion yen, down 2.1 percent.

For the full year ending March, the company revised upward its group net profit forecast, expecting to post 8.0 billion yen in profit compared with 7.0 billion yen forecast in June.

But the company downgraded its consolidated operating profit projection to 38.0 billion yen, up 7.0 percent from a year earlier, and lowered its sales projection to 757.0 billion yen, down 10.8 percent.