Panasonic financial report: “Operating Profit Increased Significantly”.
Panasonic issued their latest financial report (PDF download here). And the good news is that “Operating Profit Increased Significantly”. Bloomberg reports:
Net income rose 20 percent to 73.7 billion yen ($730 million) in the three months ended Dec. 31, the Osaka-based company said in an e-mailed statement today. That beat the 44 billion-yen average estimate of three analysts surveyed by Bloomberg News.
The reason why Panasonic did so well is because they did cut investments in unprofitable businesses (like Plasma TV) and started a huge restructuring program. Panasonic is particularly doing well in the car supplying industry. There is no info in their report about the camera business. The only major camera related news is that Panasonic announced the reorganization of the Semiconductor Business and Transfer of Shares of Subsidiaries regarding Overseas Factories (PDF here).
Good news for the company while it remains a bit of a mystery what will happen with the camera business. Panasonic said many times they now want to focus on the more professional market. And the G4K is exactly going into that direction.