Sony's FY loss set to be almost 20% higher than forecast

|About: Sony Corporation (SNE)|By:, SA News Editor

Sony's (SNE) preliminary fiscal-year net loss was ¥130B ($1.3B), 18% above a February forecast of ¥110B and far worse than the company's even earlier FY guidance for a profit of ¥30B. In FY 2013, Sony made a profit of ¥43B.

Operating profit ¥26B vs a prior prediction of ¥80B and ¥230B in FY 2013.

Sony will book additional costs of ¥30B for its PC unit, which the company is selling, and ¥25B of charges for its overseas disc manufacturing operations amid falling demand.

On the brighter side, FY sales rose a preliminary 14.3% to ¥7.77T, higher than a previous forecast of ¥7.7T. (PR)