Olympus expects 32 bil. yen group net loss for FY 2011.
TOKYO, Feb. 13 Kyodo
Olympus Corp. said Monday it expects to post a group net loss of 32 billion yen for the current fiscal year through March, a reversal from 3.87 billion yen in profit the previous year, due mainly to an impairment Impairment
1. A reduction in a company's stated capital.
2. The total capital that is less than the par value of the company's capital stock.
1. This is usually reduced because of poorly estimated losses or gains.
2. loss in imaging and other businesses.
The company said it expects to post a group operating profit Operating profit (or loss)
Revenue from a firm's regular activities less costs and expenses and before income deductions.
See operating income. of 36 billion yen, down from a profit of 38.38 billion yen the previous year, on sales of 854 billion yen, up from 847 billion yen, as its business was not much affected by the revelation of a coverup of past investment losses, the company said.
It said it will not pay a full-year dividend.
For the April-December period, the camera and medical equipment maker posted a group net loss of 33.09 billion yen, a reversal from a profit of 5.84 billion yen a year earlier, and an operating profit of 25.96 billion yen, down 19.0 percent.
Its sales edged up 0.1 percent from a year earlier to 624.65 billion yen on favorable sales of its digital cameras as well as sales growth in the information communication business amid expansion of smartphone A cellular telephone with information access. It provides digital voice service as well as any combination of e-mail, text messaging, pager, Web access, voice recognition, still and/or video camera, MP3, TV or video player and organizer (see PDA). demand.