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Despite Losses, Pentax Improves Profit and Sales Forecasts

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*November 4, 2005 - *Even though Pentax’s fiscal first half resulted in a net loss of 307 million yen ($2.6 million), Pentax today announced that their full-year profit forecast had been raised to 1.7 billion yen from a previous estimate of 1.35 billion yen, and their sales were likely to hit 144.3 billion yen instead of 139.6 billion yen. Sales had risen to 69.3 billion yen, or by 9.3 percent.

However, the operating profit for the first half plummeted 48 percent to 959 million yen. Pentax stated that reorganization costs were largely to blame. The Japanese company hopes to turn things around by focusing on higher-end DSLRs and medical equipment rather than compact digital cameras.

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