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    Saab reports Q1 loss, will cut 300 jobs

    The Associated Press
    24 Nisan 2009 - 00:00Son Güncelleme : 23 Nisan 2009 - 17:16

    STOCKHOLM - Swedish aerospace and defense company Saab AB yesterday reported a loss for the first quarter, due to higher research costs and a lower production rate, and said it will lay off 300 employees.

    The company said net loss for the first quarter was 27 million kronor ($3.2 million), down from a profit of 231 million kronor in the same period in 2008. Sales rose to 5.4 billion kronor from 5 billion kronor.

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