Matsushita posts robust Q3 results

TOKYO: Matsushita Electric Industrial Co Ltd, the world’s second largest consumer electronics maker, reported strong third-quarter earnings yesterday on brisk sales of DVD players and recorders as well as other audiovisual products. 

For the October-December 2002 period, the maker of Panasonic brand products achieved a group net profit of 20.89 billion yen (US$176mil) on sales of 1.87 trillion yen. For the same period a year earlier, the group had suffered a net loss of 172.03 billion yen on sales of 1.74 trillion yen.