23 May '11, 10am

Sony expects annual net loss of $3.2 billion, reports Channel News Asia

TOKYO: Japan's Sony on Monday said it expected to swing to a $3.2 billion net loss for the fiscal year ended March, after delaying its corporate results to gauge damage from the March 11 earthquake and tsunami. The latest setback for the technology and entertainment giant comes as it tries to recover from the impact of the disasters and a massive online hacking attack that compromised millions of users of its network services. In a preliminary earnings statement, Sony revised February's forecast for a 70 billion yen net profit and now expects a net annual loss of 260 billion yen ($3.2 billion), citing a charge for deferred tax assets. Sony expects annual net loss of $3.2 billion TOKYO: Japan's Sony on Monday said it expected to swing to a $3.2 billion net loss for the fiscal year ended March, after delaying its corporate results to gauge damage from the March 11 earthquake...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific/vi...

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