Medical equipment sells well in Olympus' second fiscal quarter

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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