Toshiba Posts FQ1 Net Loss

Toshiba TOSYY posted a net loss in the fiscal first quarter. Toshiba posted a quarterly net loss of 12.11 billion yen ($154.96 million), versus a year-ago profit of Y470 million. Its operating profit surged 178.4% to Y11.47 billion, versus Y4.12 billion. Its revenue dropped 4.3% to Y1.269 trillion, versus Y1.326 trillion. Toshiba shares closed at $19.65 yesterday.