Olympus 2007 Annual Report Download - page 28

26 OLYMPUS 2007
CONSOLIDATED RESULTS OF OPERATIONS
Net Sales
> In fiscal 2007, the year ended March 31, 2007, total net sales
rose 8.6% from the previous fiscal year to ¥1,061,786 mil-
lion (US$8,848 million), marking the 13th consecutive year of
growth.
Sales in the Imaging Systems Business totaled ¥294,303 mil-
lion (US$2,453 million), an increase of 15.6% from the previous
fiscal year. Taking advantage of overall market growth for com-
pact and SLR cameras, Olympus released new camera models
that enjoyed immediate success in overseas markets, includ-
ing FE series compact cameras and the µ[mju:]-SW (Stylus-SW
in the Americas) series. Voice recorders also contributed to
sales, with the Voice-Trek series continuing to enjoy popularity
in Japan and sales of the VN series expanding overseas, espe-
cially in Europe where the shift to digital recorders is becoming
pronounced.
In the Medical Systems Business, sales jumped 17.0% to
¥311,709 million (US$2,598 million). The new EVIS LUCERA
SPECTRUM videoscope system, which utilizes specific light
spectra technologies, contributed to sales domestically, while
the EVIS EXERA II high-resolution HDTV videoscope systems
proved popular in overseas markets. Also contributing to sales
were new product launches of a disposable electrosurgical knife
in Japan and a high-resolution HDTV videoscope for abdominal
and chest cavities in overseas markets.
Sales in the Life Science Business also improved, rising
14.6% to ¥123,706 million (US$1,031 million). The FLUOVIEW
confocal laser scanning microscopes series, a strategic product
for Olympus, generated excellent sales in European and U.S.
markets, and sales grew in Asia and Latin America. Revenues
were also supported by strong domestic sales of inspection
equipment for flat panel displays.
The Information & Communication Business recorded sales
of ¥267,691 million (US$2,231 million). This marks a decline
of 6.0% compared with fiscal 2006, owing to the discontinua-
tion of OEM sales of computer peripherals, which offset sales
growth spurred by the launch of our automotive aftermarket
business.
In the Others Business, sales amounted to ¥64,377 million
(US$536 million), mostly on par with the previous fiscal year.
Significant sales increases were recorded for ultrasonic flaw
detectors as well as portable industrial videoscopes, which
were supported by steady investment in Japan. However, over-
all sales in the Others Business were flat as a result of pro-
tracted sales of investment securities for business incubation by
ITX Corporation.
Net Income
> The Olympus Group reported excellent earnings results for the
fiscal year under review. Operating income increased signifi-
cantly by 57.9% to ¥98,729 million (US$823 million), due to
the improvement in net sales and a decrease in the cost of
sales ratio compared with the previous fiscal year. As a result,
net income surged to ¥47,799 million (US$398 million), 67.3%
above the ¥28,564 million recorded in the previous fiscal
year.
This marked the achievement of record new highs for Olympus
in consolidated net sales, operating income and net income.
Financial Review
Net Sales
(Millions of yen)
03 04 05 06 07
564,343 633,622
813,538
978,127
1,061,786
28,564
Net income (loss)
Operating income
Operating Income / Net Income (Loss)
(Millions of yen)
03 04 05 06 07
98,729
62,346 62,997
23,153
62,523
–11,827
24,348
33,564
47,799
Equity
Total assets
334,210
222,432 252,179 240,837 290,656
Total Assets/Equity
(Millions of yen)
03 04 05 06 07
1,091,800
605,768 682,673
858,083
976,132