According to foreign media reports, Olympus ’(Olympus) financial report released yesterday showed that Olympus turned profitable in the second fiscal quarter, benefiting from cost reductions and the best-selling medical equipment.
In the second fiscal quarter (July-September), Olympus achieved a net profit of 12.47 billion yen, which was higher than the average estimate of 6.9 billion yen by six analysts surveyed by Thomson Reuters, while the company suffered a loss last year 30.91 billion yen. During the reporting period, the company's operating profit increased by 29.5% to 15.92 billion yen, and revenue increased by 0.1% to 216.22 billion yen.
Olympus announced in September this year that it formed a funding alliance with Sony because the accounting scandal of up to $ 1.5 billion has caused serious damage to its financial situation.
Driven by a capital injection from Sony, the company's underperforming balance sheet has improved, further reducing concerns about its financial situation.
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