Panasonic Corp. (PC: Quote) reported net income attributable to the company of 12.8 billion yen for the first quarter compared to the loss of 30.4 billion yen last year.
Consolidated sales for the three-month period declined to 1.81 trillion yen from 1.93 trillion yen in the year-ago quarter, mainly hurt by weak demand for AV products in Japan.
Looking forward to fiscal 2013, the company still expects net income attributable to Panasonic to be 50 billion yen, an improvement of 822.2 billion yen from fiscal 2012. Sales for the year is projected to be 8.1 trillion yen, up 3% from fiscal 2012 level.
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by RTT Staff Writer
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