Sony Set to Take Hit from PS3

Online staff -- Electronic News, 4/28/2006

With Sony’s PlayStation 3 release due pushed back to November, the company is set to take both hits in operating and net income in fiscal 2006. 

Both operating income and net income are set this fiscal year to decrease 48 percent to approximately $8.79 billion (1 trillion yen) and $13.18 billion (1.5 trillion yen), respectively.

However, Sony expects revenue to climb this fiscal year 10 percent to about $72.06 billion (8.2 trillion yen).

Sony reported revenue for fiscal Q4 2005, ended March 31, of $15.77 billion (1.85 trillion), an increase of 8.7 percent compared to the year-ago quarter.

An operating loss was recorded in Q4 2005 of $532 million (62.2 billion yen), an improvement of (15.2 billion yen) from the year-ago quarter. The company had a net loss of $569 million (66.5 billion yen), an approximately $88.79 million (10.1 billion yen) deterioration from the year-ago quarter.

Sony noted that sales of LCD TVs, VAIO PCs and LCD rear projection TVs increased over the quarter.