Olympus forecasts larger $412 million loss for fiscal 2011
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Beleaguered Japanese camera and medical instrument maker Olympus is forecasting a ¥32 billion (about $412 million) yearly loss for fiscal 2011, citing the Thai floods and unfavorable exchange rates. While the forecast for yearly operating profits from its medical equipment arm slipped from ¥8.5 billion to ¥6.5 billion, its imaging business actually improved — although remaining unprofitable — going from a ¥15 billion loss in 2010 to a forecasted ¥9 billion loss for the 2011 (year ending March 2012). »read more
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