Sony, Sharp, hhgregg Post Losses

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New York - Sony, Sharp Electronics and hhgregg all reported losses today for their respective fiscal first quarters, which ended June 30.

Sony posted a net loss of 24.6 billion yen ($312 million) which was 9.1 billion yen deeper than the prior year's fiscal first quarter. Corporate sales were up 1.4 percent to 1,515.2 billion yen ($19.2 billion) compared with the prior year.

Sharp Electronics reported a loss of 138.4 billion yen ($1.8 billion) in its first quarter compared with the prior year's 49.3 billion yen loss. Net sales were 458.6 billion yen, 182 billion yen lower than last year's fiscal first quarter.

hhgregg reported a net loss of $5.7 million for the quarter compared with an $800,000 loss in the prior year's opening quarter. The increase in the net loss was the result of a comparable-store sales decrease of 5.1 percent. Overall sales were up 13.5 percent for the quarter.

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