olympus corp (OCPNF) Key Developments
Olympus Corporation Announces to Close its 120-Employee Biotech Manufacturing Plant in West Lebanon, N.H
Jun 18 14
Olympus Corporation announced that it will close its 120-employee biotech manufacturing plant in West Lebanon, N.H. because it's been unable to find a buyer in the past four months. The company, known for making cameras, announced in February it planned to close a subsidiary, Olympus Biotech, which it started four years ago to focus on products for regenerative medicine. The company purchased the rights to a protein-based putty used to regenerate bones for treating spinal, hip and knee conditions, from Stryker Biotech for $60 million in December 2010.
Olympus Reportedly Planning To Close Plant; Could Not Find Buyer
Jun 18 14
Olympus Corporation (TSE:7733) could not find a buyer for biotech manufacturing plant in West Lebanon. The company stated that it will close the plant as it's could not find a buyer in the past four months. In February 2014, Olympus Corp announced plans to close down Olympus Biotech Corporation. The company said that the closure was “purely a financial decision and is not related to the performance, quality or safety of our OP-1 family of products.” In an email to the Boston Business Journal on June 17, 2014, Olympus Corp said that “a deal has not been consummated, and therefore Olympus Biotech will continue this closure process, now including the manufacturing location.” All of the biotech's facilities will be closed by August 29, 2014, and the company said that it is offering the 120 employees in New Hampshire "appropriate transition services." Olympus spokesman Mark Miller told the Valley News, “This was a difficult decision and was made only after numerous alternatives for business continuation were identified and exhausted over the past year, including partnerships, acquisitions, private equity, contract manufacturing and other options. None of these came to fruition.”
Olympus Introduces the 27MG Ultrasonic Thickness Gage for Measurements
Jun 16 14
Olympus announced the release of the 27MG Ultrasonic Thickness Gage that is designed to make accurate measurements from one side on internally corroded or eroded metal pipes and structures. It weighs only 12 oz. (340 g) and is ergonomically designed for easy, one-hand operation. Despite its compact size, the 27MG has many innovative measurement features utilizing the same technologies that are available on more advanced thickness gages. The durable, rugged 27MG is battery-operated and features a large, backlit LCD with easy-to-read numerals, and an intuitive color-coded keypad with direct access to many features. Standard features include Automatic Probe Recognition to ensure optimal transducer performance, Auto Zero compensation to enhance the accuracy of measurements on hot surfaces, Gain Adjust to improve measurements on sound-attenuating materials such as cast metals, Differential mode, Hi-Low Alarm settings, and a Min/Max mode that recalls the minimum or maximum thickness at 20 measurements per second.
Olympus Corporation, Annual General Meeting, Jun 26, 2014
May 27 14
Olympus Corporation, Annual General Meeting, Jun 26, 2014., at 10:00 Tokyo Standard Time. Location: The Main Building, Hotel New Otani Tokyo, banquet Floor. Agenda: To consider the business report, consolidated financial statements, and the results of audit of the consolidated financial statement by the accounting auditor and the audit & Supervisory board for the 146th term; to approve reduction in legal capital surplus and legal reserve and appropriation of surplus; to elect thirteen directors; and to approve the renewal of Countermeasures to large scale acquisition of Olympus Corporation Shares (takeover defense measures).
Olympus Corporation Announces Consolidated and Non Consolidated Earnings Results for the Full Year Ended March 31, 2014; Provides Consolidated Earnings Guidance for the First Half and Full Year of Fiscal Year Ending March 31, 2015
May 11 14
Olympus Corporation announced consolidated and non consolidated earnings results for the full year ended March 31, 2014. For the year, the consolidated company reported net sales of JPY 713,286 million compared with JPY 743,851 million for the same period a year ago. Operating income was JPY 73,445 million compared with JPY 35,077 million for the same period a year ago. Ordinary income was JPY 50,913 million compared with JPY 13,046 million for the same period a year ago. Net income was JPY 13,627 million or JPY 41.05 per share compared with JPY 8,020 million or JPY 28.96 per share for the same period a year ago. Return on equity was 5.7% compared with 8.3% for the same period a year ago. Cash flows from operating activities was JPY 72,388 million compared with JPY 25,233 million for the same period a year ago. Income before provision for income taxes was JPY 16,425 million compared with JPY 19,142 million for the same period a year ago.
For the year, the non consolidated company reported net sales of JPY 82,556 million compared with JPY 71,400 million for the same period a year ago. Operating income was JPY 2,453 million compared with operating loss of JPY 5,870 million for the same period a year ago. Ordinary income was JPY 19,577 million compared with JPY 8,529 million for the same period a year ago. Net income was JPY 13,888 million or JPY 41.83 per share compared with JPY 16,789 million or JPY 60.62 per share for the same period a year ago.
The company provided consolidated earnings guidance for the first half and full year of fiscal year ending March 31, 2015. For the first half, the company expects to report net sales of JPY 360,000 million, operating income of JPY 35,000 million, ordinary income of JPY 25,000 million and net income of JPY 13,000 million or JPY 37.98 per share.
For the full year, the company expects to report net sales of JPY 760,000 million, operating income of JPY 88,000 million, ordinary income of JPY 70,000 million and net income of JPY 45,000 million or JPY 131.49 per share.