- Gentlemen, start your drones: Judge’s ruling opens door for commercial use
- Soldier who hid, bragged about not saluting flag to be punished — in secret
- ‘Maverick’ of the seas: ‘Top Gun’ school for U.S. ship officers to launch
- Putin declares Sochi Paralympics open amid Ukrainian protest
- ‘In Jesus name, we pray’ sparks ire at Ohio council meeting
- Navy’s first laser weapon ready for prime time; drone killer to deploy this summer
- Billionaire backer: Rick Santorum ‘needs to be heard’ in 2016
- Obamacare fallout: 49 percent pessimistic; 45 percent ‘scared’
- DHS accused of holding U.S. citizen at airport, using emails to pry into her sex life
- Seattle socialist: Minimum-wage discussion skewed by ‘right-wing’ GAO analysis
Panasonic returns to profit on cost cuts, yen drop
TOKYO (AP) - Japanese electronics maker Panasonic Corp. returned to the black last quarter as cost cuts and a weaker yen offset sliding sales.
Panasonic is among the Japanese electronics makers battered by price plunges in gadgets and hot competition from more successful rivals such as U.S. manufacturer Apple Inc. and Samsung Electronics Co. of South Korea.
Osaka-based Panasonic reported a 61.4 billion yen ($667 million) profit for the October-December period Friday. It had a loss of 698 billion yen in the previous quarter and a loss of 197.6 billion yen a year earlier.
Quarterly sales slipped 8 percent to 1.8 trillion yen ($19.6 billion).
The company said global demand weakened for flat panel TVs and digital products and devices, but sales grew in LED lighting and auto-related equipment.
TWT Video Picks
Taxpayers must pay the freight for over-budget train projects
- Kim Jong-un calls for execution of 33 Christians
- Rand Paul wins 2014 CPAC straw poll, Ted Cruz finishes a distant second
- Vietnam says it may have found door of missing Malaysian jet as intel look into stolen passports
- Bill Clinton cashes in on struggling nonprofit hospital
- Bill Clinton poses for photo with Bunny Ranch prostitutes
- Obama engages in Ukraine diplomacy from Fla. resort as Russia digs in
- CPAC 2014 straw poll results
- EDITORIAL: Senate rejects Adegbile for Justice post
- Italy outraged over U.S. gun dealer's 'David' ad
- U.S. pilot scares off Iranians with 'Top Gun'-worthy stunt: 'You really ought to go home'
Pope Francis meets his 'mini-me'
Celebrity deaths in 2014
Winter storm hits states — again