Sony Forecasts End of Loss Streak
After reporting a net loss of $5.7 billion for the last fiscal year — its fourth annual loss in a row — Sony Corp. said it expects to swing back to a profit this fiscal year as its consumer-electronics and component businesses recover.
For the year ending next March, the Japanese electronics giant Thursday forecast a net profit of ¥30 billion ($376 million), an operating profit of ¥180 billion and a 14 percent rise in revenue to ¥7.4 trillion. Sony said it expects major improvements in its camera, personal-computer and component businesses, hurt last year by the earthquake and tsunami in Japan as well as the flooding in Thailand, an important production center.
