Olympus Report Triple Profit in 3rd Quarter

Bloomberg have details of Olympus reporting record third quarter operating profit, as a result shares have risen by 3%, Olympus, the 4th largest Digital Camera manufacturer, previously announced cost-cutting, and a move towards concentrating on Digital SLRs, such as the E-500 (pictured) and the recently announced E-330:

"Shares of Olympus Corp., the world's fourth-biggest digital camera seller, rose after a report said third-quarter operating profit reached a record on cost-cutting. The shares advanced 2.8 percent to 3,080 as of 9:12 a.m. in Tokyo. Operating profit almost tripled to 21 billion yen ($177 million) in the three months ended Dec. 31 from a year earlier, the Nihon Keizai newspaper reported today, without saying where it obtained the information. Olympus cut digital camera production costs and promotional and advertising expenses, it said."