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Sanyo Electric Posts Loss In Q3

Osaka, Japan — Sanyo Electric posted a net loss of $59.9 million for its fiscal third quarter, ended Dec. 31, compared with a new profit in the year-ago quarter of $51.1 million. Sanyo attributed the loss to the cost of funding the company’s early retirement program.

The consumer electronics segment, led by declining digital camera sales, dragged group sales down 3.1 percent to $4.8 billion, but group operating profit in the quarter rose 31 percent to $123.2 million, mostly due to cost-cutting measures, the company stated.