AnMaster.com

Alexkid

Panasonic quarterly profit jumps 24 percent
YURI KAGEYAMA - The Associated Press





07:01:00PM (ET) Wednesday,February 2,2011.

TOKYO (AP) — Panasonic's quarterly profit jumped 24 percent, driven by strong sales of flat-panel TVs, auto components and solar panels that offset damage from a strong yen.

The Osaka-based maker of Viera plasma TVs and Lumix digital cameras on Wednesday reported 39.98 billion yen ($490 million) in profit for the October-December quarter, up from 32.26 billion yen the year before.

The solid results came despite the damage from a strong yen, severe price drops in gadgets and soaring material costs.

Quarterly sales for the Japanese electronics maker climbed 21 percent to 2.285 trillion yen ($28 billion).

Both results were in line with analyst expectations as surveyed by FactSet.

Panasonic had strong sales both in Japan and abroad, helped by a gradual global recovery, but also by economic stimulus spending in several countries, including rebates for green gadgets in Japan.

Panasonic also said it was well on its way to completing the acquisition of Japanese rival Sanyo Electric Co. into a wholly owned subsidiary, set to be completed by April.



----------------------------------------------------------------------

* New innovations keeping Panasonic @ pace. *

__________________
Yeah...Do That.