Olympus Corp. (OCPNY.PK), a Japanese manufacturer of optics and reprography products, reported Wednesday that its first-quarter profit attributable to owners of parent fell 94 percent to 14.58 billion yen from last year's 240.56 billion yen. Earnings per share were 12.49 yen, compared to 191.50 yen a year ago.
Operating profit, however, grew 21.4 percent to 27.48 billion yen from 22.63 billion yen last year.
For the quarter, revenue was 234.82 billion yen, a growth of 14.6 percent from previous year's 204.99 billion yen.
Looking ahead for fiscal year ending March 31, 2025, the company continues to expect profit attributable to owners of 121 billion yen or 105.70 yen per share, down 50.2 percent from last year.
Meanwhile, operating profit is now expected to be 176 billion yen, up 242.4 percent from last year, adjusted operating profit to be 197.50 billion yen, up 30.4 percent, and revenue to be 1.009 trillion yen, up 9 percent year-over-year.
The company previously expected operating profit to be 177 billion yen, up 306 percent from last year, adjusted operating profit to be 198.50 billion yen, up 31 percent, and revenue to be 1.02 trillion yen, up 9.1 percent year-over-year.
Olympus further announced that the transfer price for the transfer of the Orthopedic Business would be 3.7 billion yen, based on the agreement between Polaris Capital Group Co., Ltd. and its units PTCJ-6O Holdings Inc. and PTCJ-6F Holdings Inc.
In Tokyo, Olympus shares closed Wednesday's trading at 2,424 yen, up 4.17 percent.
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