Olympus profit falls 62%

Olympus has reported a 62% drop in profits in the first quarter
compared to the same period last year, reports the PMA daily news. In
the period April-June 2004, the Japanese company made a net profit of
¥1.06 billion ($9.5 m) compared to ¥403 million ($3.6 m) in the
fiscal first quarter of this year. Despite disappointing figures the
company still hopes to make a net profit of ¥23 billion ($206 m) in
the year to March following its first ever consolidated net loss of
¥11.8 billion ($105 m) in 2004-2005. (09:40 GMT)
Hope there is lots of profitable product in the pipeline.
Winsor
Long Beach, California, USA
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