The economy may be starting to look up, but that doesn’t mean the suffering is over. Toshiba is just the latest company to announce that it had a rough quarter to close out the calendar year 2011. The quarter ending December 31st of 2011, saw the company pull in $18.5 billion in revenue — nine percent less than it did over the same time period last year. What’s worse, is that even with all that cash flowing in, the Japanese electronics giant still lost $136 million during the fiscal third quarter of 2011. Practically every segment of the company saw sales decrease, including appliances, TVs and electronic devices, contributing to the poor performance. Toshiba has also revised its forecast for Q4, cutting projected earnings in half, but not going as far as to predict a loss. Check out the source link for full details.
Toshiba announces Q3 earnings: revenues down, posts $139 million loss originally appeared on Engadget on Tue, 31 Jan 2012 15:59:00 EDT. Please see our terms for use of feeds.
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