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Edition: U.S. Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read Miss California, a history buff, named Miss USA 1:36am EDT AIRSHOW-Paris jinx grounds planes but deals soar 19 Jun 2011 Europe delays decision on emergency loans to Greece 3:23am EDT Same-sex marriage goes down to legislative wire in New York 19 Jun 2011 "Very slow" live cruise show a hit 17 Jun 2011 Discussed 73 Republicans to debate, with Romney the frontrunner 48 Weiner tells friends he will resign: NY Times 44 IMF cuts U.S. growth forecast, warns of crisis Watched Paris air show takes off Sat, Jun 18 2011 Airbus' view of flying in the future Mon, Jun 13 2011 Greeks protest austerity measures Sat, Jun 18 2011 Panasonic forecasts 11 percent drop in full-year profit Tweet Share this Email Print Related News Panasonic sees $3 billion operating profit in 2011/12: report Sun, Jun 19 2011 Nikkei set to edge higher, 9400 likely hold Thu, Jun 16 2011 BlackBerry maker slashes forecast, shares tumble Thu, Jun 16 2011 Nikkei set to fall but 9,400 will likely support Wed, Jun 15 2011 Japan Showa Shell says eyeing solar Wed, Jun 15 2011 Analysis & Opinion Japan shouldn’t dismiss hedge fund TCI out of hand Glencore’s Q1 feeds the bears Related Topics Technology » Hot Stocks » Asian Markets » Media » Panasonic's logo is seen on an electronics shop's wall in Tokyo April 28, 2011. Credit: Reuters/Kim Kyung-Hoon TOKYO | Mon Jun 20, 2011 3:00am EDT TOKYO (Reuters) - Panasonic Corp on Monday forecast a 270 billion yen ($3.4 billion) operating profit for the year to March 2012, down 11 percent on the previous year as the effects of the devastating earthquake continued to weigh on the company's supply chain. Market consensus was for a profit of 262.6 billion yen, based on the average of 21 estimates by analysts polled by Thomson Reuters I/B/E/S. The maker of Viera televisions and Lumix cameras posted a 305 billion yen profit last year, and said in April it would have raised that to 310 billion yen in the current year, if it were not for the effects of the March disaster. Panasonic also said in April it planned to shed another 17,000 jobs and might close up to 70 factories around the world over the next two years, as it seeks to pare costs and rid itself of overlapping businesses following its buy-out of Sanyo Electric and Panasonic Electric Works. Company President Fumio Ohtsubo told reporters in May the effects of the quake were proving shallower, but longer-lasting than the firm had initially expected. Like many of its rivals, Panasonic delayed its profit forecast due to lack of clarity about the effects of the quake. ($1 = 80.055 Japanese Yen) (Reporting by Isabel Reynolds; Editing by Chris Gallagher) Technology Hot Stocks Asian Markets Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Social Stream (What's this?) © Copyright 2011 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Super Lawyers Attorney Rating Service Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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