TOKYO –
Sony reported a wider net loss and lower
sales for its fiscal year and fourth quarter, but
predicted a turnaround in the upcoming fiscal year.
The net loss for the year ended March 31 was
$3.12 billion (259.6 billion yen) higher than the
40.8 billion yen loss of the prior year, as Sony indicated
when it projected the loss a couple of days
prior to this report.
Sony is projecting a 4.4 percent increase in
sales and operating revenue in its fiscal year ending
March 31, 2012 and net income of 80 billion
yen, as compared to its loss of 259.6 billion yen for
this fiscal year.
Operating income for the year just ended was
$2.407 billion or 199.8 billion yen, up 168 billion
yen year-on-year.
Sales were 7.18 trillion yen, or $86.5 billion,
down 5 percent from the prior year.
In the fourth quarter the net loss was $4.68 billion
or 388.8 billion yen, a deterioration of 332.2
billion yen from last year’s final quarter. The operating
loss was $884 million or 73.4 billion yen, a
deterioration of 17.3 billion yen year on year.
Sales in the fourth quarter fell 7.8 percent to
$19.04 billion or 1.58 trillion yen.
In its Consumer, Professional & Devices (CPD)
segment sales and operating revenue for the year
were up 1.6 percent to $43.0 billion, or 3.57 trillion
yen. Operating income was $35 million, or 2.9 billion
yen, reversing a 53.2 billion loss from the prior year.
Sales increased during the year for the segment
due to higher LCD TV sales. LCD TVs hurt operating
results due to lower unit selling prices and unfavorable
exchange rates despite higher unit sales.
In its Networked Products & Services (NPS)
segment sales were up 0.4 percent to $19.0 billion
or 1.57 trillion yen for the year. Operating income
for the segment during the fiscal year was $429
million, or 35.6 billion yen, compared with a loss
of 83.3 billion yen in the prior year. Sales in the
segment increased mainly due to PCs and cost reductions
in PlayStation 3 hardware and higher unit
sales of PS3 software helped operating income.
In its next fiscal year CPD segment Sony expects
sales to increase year-on-year, despite the
negative impact of the earthquake, due in part to
higher sales in LCD TVs.
In its NPS segment sales are expected to increase
year-on-year in its next fiscal year primarily
due to higher sales in the game business, PCs and
network services.
