Japan’s Pansonic trims quarterly loss to $971 million amid recovery in global sales

By AP
Friday, May 7, 2010

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Panasonic trims quarterly loss to $971 million

TOKYO — Japanese electronics maker Panasonic says it has reduced its losses for the January-March quarter to just under $1 billion amid a recovery in global sales.

The Osaka-based maker of home electronics like Viera TVs said Friday its loss for the fiscal fourth quarter was 88.9 billion yen ($971 million) compared with a 444.3 billion yen loss a year earlier.

Quarterly sales jumped 16 percent to 2.198 trillion yen ($24 billion).

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