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Pioneer Australia appears to be in better shape than their corporate partners who suffered a $42.7 million loss in its first quarter of 2010.

Pioneer Australia appears to be in better shape than their corporate partners who suffered a $42.7 million loss in its first quarter of 2010.

On the positive side the loss is 57 percent lower than the company forecasted.

Pioneer, who has already dropped Plasma sales in Australia and will drop them globally by March 2010, says net sales and losses were both better “mainly due to a smaller-than-expected drop in plasma display prices and weaker-than-expected yen exchange rates.”

The company still anticipates a net loss of about $868 million for the year, which would be about 36 percent less than the previous year’s loss and Pioneer’s sixth straight year of net losses.

Operating loss increased 28 percent to $91.2 million, while net sales fell 40.5 percent to $997.5 million.

Pioneer’s home electronics segment, which includes plasma displays, home audio, DVD drives and Blu-ray players, posted an operating income of $10.6 million compared to last year’s loss of $77.4 million. Pioneer attributes the gains to reduced operating expenses, improved gross profit margins and fee income from patents.

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