Panasonic's 2013 Q1: things are looking up with a $164 million profit

Panasonic's financial year runs from summer to summer, so its first-quarter results for 2013 just hit the wire. The figures proudly show that the company has managed to turn around the losses it suffered so badly in the previous period - with $23 billion in turnover generating a tidy profit of $164 million. While sales dropped by six percent compared to the first three months of the year, it's been reducing fixed costs and restructuring each segment of the business to ensure a return to profit making despite the worsening financial crisis in Europe.

Engadget , Panasonic's 2013 Q1: things are looking up with a $164 million profit, Panasonic's 2013 Q1: things are looking up with a $164 million profit