Exact(4)
"Significant cost savings during the year led to a fall in operating loss before exceptionals.
The unit posted $728 million in operating loss, continuing a streak of red ink.
Despite these successes, GNM experienced the toughest trading conditions seen for many years, resulting in an increase in operating loss, before exceptional items, to £36.8m (2008 £26.4m) on turnover of £253.6m (2008 £261.9m).
The net sales reported today are 24% down on the same quarter a year ago, and the fact that the company is reporting a cut in operating loss with better EPS points to the fact that improvements are coming not because of growth, but because the company continues to be in a cost-cutting mode (or, it is getting more efficient, depending on how you look at it).
Similar(55)
Chrysler has gone from being one of the most profitable automakers to being a strong drain on Daimler, with $1.2 billion in operating losses in the first quarter.
Microsoft had nearly $1.3 billion in operating losses in online services during its last fiscal year, while Google made more than $11.6 billion in net profit during that same time.
In all, it has received more than ¥3.2 trillion from investors and has spent about ¥2.8 trillion of that in operating losses, investment losses and capital expenditure.
The state comptroller, Thomas P. DiNapoli, said in an audit last month that SUNY Downstate had $117 million in operating losses in 2011, of which $44 million was attributable to the acquisition of LICH.
A state comptroller's audit last month said SUNY Downstate was approaching insolvency and had $117 million in operating losses in 2011, of which $44 million was attributable to the acquisition of LICH, which had been losing money for many years.
The government has argued it had no choice but to shut the company: it was spending twice what it earned in revenues, costing the government more than $3 billion a year in operating losses while outraging consumers with dismal service.
The Center for Asia Pacific Aviation estimates that major state-owned carriers in China lost a total of about $4 billion last year and an additional $200 million in operating losses in the first quarter of this year, prompting some analysts to question whether the bailouts for China Eastern, including a cash injection of nearly $300 million in March, would be enough.
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