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.