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Thursday, August 02, 2012
Sony's Loss Grows

Sony is reporting a bigger loss for the April-June quarter at 24.6 billion yen ($316 million) despite a sales recovery from a disaster-struck previous year.

Sony sales were 1,515.2 billion yen (19,180 million U.S. dollars), an increase of 1.4% compared to the same quarter of the previous fiscal year. This increase was primarily due to a significant increase in sales in the MP&C segment, while sales in the HE&S segment decreased significantly. On a constant currency basis, sales increased 5% year-on-year.

The Japanese electronics company said Thursday its income was hurt by a surging yen, which erases overseas earnings, and by declining sales of liquid-crystal display TVs and video game machines.

Sony said it's expecting to return to the black for the fiscal year through March 2013, with a 20 billion yen ($256 million) profit. It posted a 456.6 billion yen loss in its last business year.

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