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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (60818)	2/21/2002 2:54:17 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Matsushita Elec forecasts big 2001/02 loss Reuters, 02.21.02, 2:41 AM ET forbes.com By Edmund Klamann TOKYO, Feb 21 (Reuters) - Matsushita Electric Industrial Co Ltd <6752.T> on Thursday posted a loss for its third quarter and warned its full-year loss would be much worse than previously forecast, hit by slumping sales and restructuring charges. The maker of Panasonic products reiterated its vow of a recovery in the next business year, however, when job cuts and other reforms are expected to bring substantial cost reductions. Matsushita posted a consolidated net loss of 172.0 billion yen ($1.29 billion) for the October-December quarter, compared with a 22.8 billion yen profit in the year-ago period.