Olympus 2002 Annual Report Download - page 22

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20
1998
9.3
35.2
1999
8.9
33.6
2000
7.0
2001
1.9
11.8
2002
10.3
38.9
44.6
12
10
8
6
4
2
0
150
100
125
75
50
25
0
Net Income
(Billions of yen)
1998
521.1
186.1
1999
533.6
190.3
2000
536.2
190.3
2001
584.1
192.2
2002
562.1
201.5
600
500
400
300
200
100
0
Total Assets and Shareholders’ Equity
(Billions of yen)
Total assets
Shareholders’ equity
Net income
Net income per share (¥)
CONSOLIDATED RESULTS OF OPERATIONS
Net Sales
Total net sales increased 13.2% to ¥528,415 million
(US$4,227 million).
Sales in the Imaging Systems Group rose 13.5% to
¥208,447 million (US$1,668 million). While there is down-
ward trend in market price caused by the serious price compe-
tition, sales revenue by digital cameras continued to grow
substantially due to the contribution of new products in the
CAMEDIA series. By contrast, sales of film cameras continued
to decrease due to shrinking market volume in Japan and
overseas.
In the Medical Systems Group, sales increased 19.4% to
¥254,943 million (US$2,040 million). The EVIS EXERA
series of high-end endoscopes, which was released in the U.S.
and European markets in the previous fiscal year, continued to
grow substantially, despite prolonged stagnation in the domes-
tic market for endoscopes resulting from weak replacement
demand. Sales of biological microscopes were favorable in
Japan and overseas. Sales of clinical analyzers were also well,
particularly the analytical system business in Europe and
AU5400 series in the U.S. and European markets.
In the Industrial Systems Group, sales decreased 3.8% to
¥55,833 million (US$447 million). Sales of the new product
of industrial endoscopes, IPLEX were favorable. Sales of
barcode data processing equipment were well in U.S. markets.
By contrast, sales of industrial microscopes decreased under
the influence of inactive semiconductor market. Sales of
magneto-optical disk drives decreased due to shrinking mar-
kets and severe price competition.
In the Others, sales were ¥9,192 million (US$74 million).
Net Income
Operating income advanced 19.1% to ¥42,283 million
(US$338 million). Selling, general and administrative expenses
per net sales decreased from 34.2% to 33.6%. Net income fell
12.8% to ¥10,279 million (US$82 million), mainly due to the
evaluation loss of investment securities.
ANALYSIS OF FINANCIAL POSITION
Total Assets
As of March 31, 2002, total assets were ¥562,078 million
(US$4,497 million), down 3.8% from the previous fiscal year-