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Panasonic for the first time in three years has made a profit
The net profit of the Japanese company Panasonic for the 2013 fiscal year ending 31 March amounted to $ 1,18 billion (120,4 billion yen) against a loss of $ 7,4 billion (754,25 billion yen) a year earlier, the company reports. The company made a profit for the first time in the last three years.
At the same time, Panasonic's revenue increased in annual terms by 6% to $ 75,8 billion (7,74 trillion yen).
Earnings per share fell 40% in annual terms to $ 0,51 dollars (52,1 yen) against a loss of $ 3,2 dollars (326,28 yen) for the 2013 fiscal year.
Operating profit for the reporting fiscal year increased by 89,6% and reached $ 2,9 billion.
For the current fiscal year, which started on April 1, the company has positive forecasts - Panasonic expects to achieve net profit of 140 billion yen ($ 1,3 billion), and bring operating profit to the level of 310 billion yen (about $ 3 billion dollars)