Foxconn International Net Loss Widens More Than Estimated

It would seem that all the money Foxconn spent on safety nets and raises for employees hurt its bottom line, the company just posted a $218M net loss.

Foxconn Technology Group, posted a full-year net loss that was wider than analysts estimated as costs increased and sales shrank. The shares fell. The net loss was $218.3 million, or 3.06 cents a share, compared with net income of $38.6 million, or 0.55 cent, in 2009, Foxconn said in a Hong Kong stock exchange filing yesterday.

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