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Email Print Related News MUFG Q4 net sinks 82 percent, sees slight rise this FY Mon, May 16 2011 Nissan Q4 rises, sees return to pre-quake output by October Thu, May 12 2011 Toyota vows to stay in Japan as quake hits Q4 Wed, May 11 2011 Japan to inject $62 billion into Tepco compensation fund Wed, May 11 2011 Nikkei gains on Toyota output recovery report Tue, May 10 2011 Analysis & Opinion Texas choice: A rich London guy or teachers RenRen and the new tech IPO mania Related Topics Technology Home » A man walks past a logo of Japanese camera and endoscope maker Olympus Corp at the company's headquarters in Tokyo May 17, 2011. Credit: Reuters/Yuriko Nakao TOKYO | Tue May 17, 2011 8:42am EDT TOKYO (Reuters) - Japan's Olympus said on Tuesday that it would give its 2011/12 earnings outlook by the end of June and that it could pull its troubled imaging division back into profit within 12-18 months. British COO Michael Woodford, who took over as President and COO at the endoscope and camera company on April 1, said in an interview he was optimistic about prospects for the current year, after profits fell 41 percent to 35.3 billion yen ($437 million) last year. Woodford, 50, known for cutting costs and hiking profits at the company's European operations, said the slump to a 15 billion yen loss in the camera division for the year to March 2011 was "unacceptable." He said he planned to cut costs and hike unit sales and unit prices to return to the black. Olympus sold 8.1 million cameras in the year to March, but expects to sell more this year. Production in the profitable endoscope business was hit by supply chain woes in April and May following Japan's March 11 earthquake and tsunami, but will recover by the summer and the company plans to make up the lost production in July and August, Woodford said. The firm declined to give earnings guidance when it announced its annual results last week, because of uncertainties over the impact of the disasters. Woodford joins Nissan's Carlos Ghosn and Sony's Howard Stringer as one of the small number of non-Japanese to run a company in the country. ($1 = 80.795 Japanese Yen) (Reporting by Isabel Reynolds; Editing by Joseph Radford) Technology Home Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. 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