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Olympus swings to profit in fiscal Q1

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Olympus swings to profit in fiscal Q1

Olympus Corp. said its profit attributable to owners of parent for the first fiscal quarter ended June 30 amounted to ¥8.64 billion, from a loss of ¥16.69 billion in the prior-year period.

Diluted EPS came in at ¥6.32, compared with a loss per share of ¥12.22 in the prior-year period.

Revenue totaled ¥181.89 billion, from ¥180.55 billion a year earlier. Olympus said its revenue growth was driven by increased sales in its endoscopic solutions, therapeutic solutions and scientific solutions segments.

The Tokyo-based maker of medical devices and digital cameras forecasts profit attributable to owners of the parent to reach ¥63.00 billion for the fiscal 2020 full year, with revenue expected to total ¥800.00 billion.

As of Aug. 1, US$1 was equivalent to ¥108.24.