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Sony Posts Lower Sales, Reduced Loss

5/13/2010 09:44:19 AM Eastern

Tokyo - Sony reported lower net sales, but a reduced loss and an
operating profit for its fiscal year, ended March 31.

Sony said a sales decrease of 6.7 percent in yen to $77.6 billion
was due, in part, to reduced sales in its consumer products and devices
segment.

The net loss for the year was $439 million, or 40.8 billion yen,
down from the prior year's loss of 98.1 billion yen.

Operating income was 31.8 billion, or $342 million, an
improvement of 259.6 billion year on year.

In its consumer products and devices segment, sales were down
19.9 percent in yen to $34.7 billion, but its operating loss was 46.5 billion
yen, or $500 million, down from the prior year's loss of 115.1 billion yen. Its
CE business was hurt by unfavorable exchange rates and more aggressive pricing.

For its networked products and services segment, where
PlayStation and Vaio reside, sales were down to $16.9 billion, a 10.2 percent
decrease in yen. Operating loss was $893 million, or 83.1 million yen, down
slightly from the previous year's 87.4 million yen.

Sony Ericsson Mobile Communications reported a 37.2 percent drop
in sales in euros and a 33 million euro increase in its net loss for the year,
to 522 million euros.

In the company's fiscal fourth quarter, also ended March 31, Sony
reported sales of $18.4 billion, a 12.5 percent gain in yen, due in part to
increased sales in its consumer products and devices segment, but Bravia LCD TV
sales decreased.

The operating loss was $603 million, or 56 billion yen, down from
the prior year's first quarter loss of 294.3 billion.

The net loss in the first quarter was $608 million, or 56.6
billion yen, compared with the prior year's 165.1 billion loss in the fiscal
first quarter.

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