COPENHAGEN Oct 10 Danish luxury stereo and
television maker Bang & Olufsen on Wednesday reported a
bigger-than-expected first quarter pretax loss, hurt by a
decline in its audio-visual unit and the absence of new product
launches in the quarter.
The maker of upmarket televisions and sound systems kept its
outlook for the full-financial year 2012/13 of double-digit
sales growth and an improved operating margin.
Pretax losses doubled to 64 million Danish crowns ($11.07
million) in B&O's June-August quarter, far more than an average
25.7 million crowns pretax loss forecast in a Reuters poll of
Sales stalled at 600 million crowns from the same quarter
last year, also missing forecasts.
($1 = 5.7831 Danish crowns)