Sony set to return to profit

Company expects $343 mil operating profit

Sony is set to return to profit for the past fiscal year, thanks to a rigorous cost-cutting regime and an uptick in demand.

On Monday Sony said it expects a $343 million operating profit for the fiscal year ended in March, compared with a February forecast of $322 million in the minus column. It will announce its full results on Thursday.

It also says its net loss will be $440 million for the period, down from the $751 million loss previously predicted.

The sales projection has been dialed down slightly, however, from $78.3 billion to to $77.4 billion.

Sony has been selling TV factories and outsourcing production. Also, helping the bottom line are less-than-expected price drops for Sony TV sets.

Furthermore, Sony’s Networked Products and Services division, which includes its game and PC businesses, looks likely to beat its February forecast by $107 million due to drops in operating expenses and manufacturing costs.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety

Loading