Panasonic Posts Higher FQ4 Loss
Panasonic Corp (NYSE: PC) posted a higher net loss in the fiscal fourth quarter.
Panasonic posted a quarterly net loss of Y438.4 billion, versus a year-ago loss of Y40.7 billion. Its sales dropped 8% to Y1.880 trillion.
For the full fiscal year, Panasonic posted a net loss of Y772.1 billion, versus a year-ago net profit of Y74 billion.
For the current year to March, Panasonic projects a net profit of Y50.00 billion, an operating profit of Y260.00 billion on revenue of Y8.100 trillion.
Panasonic shares closed at $7.21 yesterday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.