Olympus Reports Record Sales Year
Olympus has reported an all-time high for consolidated net sales, surpassing the 1 trillion yen mark for the first time ever. Strong performance was attributed to the imaging and medical divisions of the company, coupled with the depreciation of the yen.
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August 14, 2007 – Olympus last week announced it achieved record net income and operating profit in the fiscal year ending March 31. The company reported an all-time high for consolidated net sales, surpassing the 1 trillion yen mark for the first time. Strong performance was attributed to the imaging and medical divisions of the company, coupled with the depreciation of the yen, according to a statement from Olympus President Tsuyoshi Kikukawa.
Consolidated net sales totaled 1.062 trillion yen (approx. $8.85 billion USD), growing 8.6 percent from 978.18 billion yen the previous year. Olympus credited the strong sales to its new endoscopes, microscopes, therapeutic products, and digital cameras. Citing product strength in the digital camera market, according to the president’s statement, the company has raised its sales goals for 2008 an extra 20 percent in digital cameras.
"In digital compact cameras, Olympus launches sales of stylish models with distinguishing functions, while its products retained a competitive advantage in an overall market that continues to see declining sales prices," according to the statement.
Olympus plans to launch more digital SLRs in 2008.
"In digital SLR cameras, Olympus will enhance its market presence by releasing three new models with the aim of capturing top market-share in the near future."
The company also reported operating income for the year totaled 98.7 billion yen, up 57.9 percent from 62.523 billion yen the previous year. Earnings-per-share grew to 176.79 million yen, up 67 percent from 105.99 million yen the previous year.
"I believe that changes will grow more intense in our business environment, so I am reminding all employees within the Olympus Group that we must not become even slightly prideful or complacent," Kikukawa said.
"Taking a global perspective, we must regularly assess our preset circumstances, devise effective strategies that match the business environment and reinforce our organizational strengths for implementing such strategies," he said.