Japanese high-tech giant Panasonic Corp. returned to the black in the third quarter on management streamlining and upgraded its profit outlook for the full fiscal year, the company said Friday. Osaka-based Panasonic posted a net profit of 32.3 billion yen (360 million dollars) in the October-December quarter, reversing a net loss of 63.1 billion yen a year earlier, said Japan's biggest supplier of home appliances. Operating profit more than tripled to 101.0 billion yen, while revenue gained 0.4 percent at 1.887 trillion yen in the quarter. The profit gains were 'due mainly to comprehensive streamlining of management,' the company said in a statement. It added that the market for consumer electronics was still difficult even as the global economy is gradually emerging from its deep slump. 'In the electronics industry during the third quarter, despite visible signs of market recovery in such regions as China and Asia, severe business conditions continued,' including a shift to lower-priced products, it said. For the nine months to December 2009, the company still logged a net loss of 14.6 billion yen, against a year-earlier profit of 65.4 billion yen. Its revenue during the nine months was 5.2 trillion yen, 16.1 percent less than a year earlier, while an operating profit for the period plunged to 49.0 percent to 129.9 billion yen. For the full year ending March 31, Panasonic kept its net loss estimate unchanged at 140 billion yen, but raised its operating profit outlook to 150 billion yen from the October forecast of 120 billion yen. It also raised its revenue outlook to 7.35 trillion from its previous estimate of seven trillion yen. 'Although the global economy seems to be on the way to recovery, severe business condition continues with the appreciation of the yen and ever-intensifying global price competition,' the company said. 