Olympus 7010 has a
12.0MP 1/2.3-inch (6.08 x 4.56 mm ) sized CCD sensor and features TruePic III processor. On the other hand, Panasonic LS5 has a
14.0MP 1/2.3-inch (6.08 x 4.56 mm ) sized CCD sensor .
Below you can see the 7010 and LS5 sensor size comparison.
Sensor Size and Resolution Comparison image of Olympus 7010 and Panasonic LS5 Cameras
Olympus 7010 and Panasonic LS5 have the same sensor sizes so they will provide same level of control over the depth of field when used with same focal length and aperture. On the other hand, since Olympus 7010 has 18% larger pixel area compared to Panasonic LS5, it has potential to collect more light on pixel level hence have less noise in low light / High ISO images.
Sensor size sets the circle of confusion, so it drives how much depth of field each
of these bodies gives you at a given aperture. You can calculate it exactly for the
Olympus 7010
or the
Panasonic LS5 ,
including hyperfocal distance.