Sony predicts net loss

Tokyo - Sony Corp expects a net loss of 50 billion yen (490 million dollars) for the current financial year due to restructuring costs, the company said Wednesday.

The struggling Japanese electronics giant also predicted an operating profit of 140 billion yen for the year through March 2015 while sales were estimated at 7.8 trillion yen.

Sony ended the past financial year with a net loss of 128.4 billion yen, compared with a net profit of 41.5 billion yen a year before.

The company logged an operating profit of 26.5 billion yen, down 88.3 per cent a year before while sales grew 14.3 per cent to 7.77 trillion yen.

In the January-to-March quarter, Sony posted a net loss of 139.5 billion yen, compared with a net profit of 93.9 billion yen in the same period last year.

The company also booked an operating loss of 115 billion yen for the quarter, compared with an operating profit of 147.1 billion yen a year before, while sales rose 7.7 per cent to 1.86 trillion yen. - Sapa-dpa