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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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