Olivetti's turnover for the first half of 1997 amounted to Lira3,100 billion, a drop of 10.4 per cent over the same period last year.
But Olivetti's board claimed the trend for the company was positive with net financing equivalent to the same period last year.
The report also said Olivetti will continue to spin off companies.
Meanwhile, Rodolfo de Benedetti - son of former chairman Carlo, now convicted of fraud - has resigned from the board of Olivetti. The report said: "He leaves the office consistently with Olivetti's newly acquired status of a public company."
Warming was most pronounced in Siberia region
The tank will be subjected to high stresses and loads via dozens of hydraulic cylinders during testing
'Sunlit wet sidewalk' provides evidence of methane rainfall on the north pole of Saturn's moon Titan
Methane rainfall indicates the start of the summer season in Titan's northern hemisphere
Scientists believe there could be other hydrides or superhydrides with super conducting properties