Olympus has released its financial results for the first quarter of the company's fiscal year, giving credit partly to its Imaging Systems Business for a 12.3% increase in net sales year-on-year. Notably, its OM-D and Pen series cameras saw a 25% increase in sales volume, helping to compensate for a sliding compact market.
The Imaging business made a return to profitability as operating income climbed to 1.1 billion yen (about $8.8 million) compared to a loss of 1.9 billion yen (about $15.2 million) over the same period last year. Olympus credits the upward trend to solid sales of the OM-D E-M5 II and its 'Pro' M.Zuiko lenses, though the increase in income was also helped by reducing expenses.
Compact sales continued to slide, with sales volume down by 11% year-on-year, but the company offset a loss in units sold by limiting the number of models on the market and putting an emphasis on more expensive 'high-value-added' models.
Olympus' results tell a somewhat familiar story. Sony released its results earlier this week with modest gains in camera sales, stating that more expensive compact camera models helped push its overall sales numbers up.
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