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Sanyo Posts Reduced Loss, Lower Sales For Fiscal Year

5/29/2007 10:37:00 AM Eastern

Tokyo — Sanyo Electric reported lower net sales, but a reduced loss for its fiscal year that ended March 31.

Sanyo, which has undertaken a cost-cutting program in the past year, had net sales of $18.2 billion down from $19.7 million the previous year, a decrease of $1.5 billion. But its net loss for the fiscal year was $362.8 million, down $1.32 billion from the previous year’s loss of $1.69 billion.

In the company’s consumer group, overseas net sales were $4.09 billion for the fiscal year, up slightly from the previous year’s net sales of $4.06 billion. Overall, North American sales for Sanyo during the fiscal year were $3.04 billion, up slightly from the previous year’s $2.97 billion.

In key CE categories overseas sales of TVs were $808.5 million, up from the previous fiscal year’s $757.9 million. LCD projector sales were $379.9 million, up from the previous year’s $363.1 million. And digital cameras had a very strong year with overseas sales at $304.1 million, up more than a third from the previous year’s $195.8 billion.

All dollar figures were rounded from the report that was in yen based on its value vs. the dollar on May 29.