Panasonic Posts Higher FQ4 Loss

Panasonic Corp 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.