olympus cuts fullyear earnings forecast by 21m
Last Updated : GMT 02:15:51
Arab Today, arab today
Arab Today, arab today

Camera maker confirms 7% cut in workforce

Olympus cuts full-year earnings forecast by $21m

Arab Today, arab today

Arab Today, arab today Olympus cuts full-year earnings forecast by $21m

Olympus has ventured into making medical equipment over last few years
Tokyo - Arabstoday

Olympus has ventured into making medical equipment over last few years Japan's Olympus on Tuesday cut its full-year earnings forecast citing weak demand for digital cameras as the troubled company looks to jump back to profitability after an embarrassing accounting scandal. The camera and medical equipment maker said it now expected a net profit of 6 billion yen ($64 million) in the fiscal year to March, down from an earlier 8 billion yen forecast.
Sales would be 740 billion yen, down 2.2 percent from a previous estimate.
However, for October-December, Olympus said it booked a net loss of 391 million yen, well below a 756 million yen net loss in the same quarter a year earlier. Quarterly sales were 26 percent lower at 155.46 billion yen, it said.
Olympus lost 48.99 billion yen in its previous fiscal year as it accounted for a scandal that saw it move about $1.7 billion in investment losses off its books, sparking lawsuits and the arrest of former executives.
The company has announced a major corporate overhaul that includes cutting about seven percent of its workforce.
Electronics giant Sony has said it will invest 50 billion yen in Olympus as it looks to heal its own battered balance sheet by tapping the lucrative medical equipment market.
Although best known for cameras, Olympus dominates the global market for endoscopes, which are used for internal medical examinations, accounting for nearly 70 percent of the market.

Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

olympus cuts fullyear earnings forecast by 21m olympus cuts fullyear earnings forecast by 21m

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

olympus cuts fullyear earnings forecast by 21m olympus cuts fullyear earnings forecast by 21m

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today The Big Apple bike boom

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Leaders of Russia, Iran, Turkey meet

GMT 10:12 2017 Wednesday ,22 November

Leaders of Russia, Iran, Turkey meet
Arab Today, arab today 'Advanced' cyber attack targets Saudi Arabia

GMT 10:18 2017 Wednesday ,22 November

'Advanced' cyber attack targets Saudi Arabia
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Honda recalls 800,000 minivans

GMT 11:43 2017 Wednesday ,22 November

Honda recalls 800,000 minivans
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Singer Jahda Wahba has unlimited ambitions

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 13:41 2017 Tuesday ,21 November

French choke up over proposal

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday