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Panasonic posts first quarterly profit in a year

Published: October 30, 2009 6:01 AM
By The Associated Press  MARI YAMAGUCHI (Associated Press Writer)

Quick ReadPanasonic returns to profit in second quarter on improved sales of home electronics

TOKYO (AP) — Panasonic posted a quarterly profit for the first time in a year and narrowed its forecast for annual losses, helped by cost cuts and recovering demand for home electronics.

Osaka-based Panasonic Corp., which has been battered by the global economic slump and fierce competition, Friday reported a 6.1 billion yen ($67 million) profit for the July-September quarter, down 90 percent...

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