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Sony fiscal year financials brutal, $1.2 billion annual loss reported

updated 09:59 pm EDT, Wed May 14, 2014

Sony CFO hopes 2014 will be the end of restructuring and associated costs

Sony is awash in red ink for the fiscal year. While the company's sales exceeded 7.6 trillion yen ($75 billion), the company took a loss of 128 billion yen ($1.2 billion), which represents a $1.21 per share loss. Positive factors for the company include continued growth in its motion picture business, and a dramatic climb in sales from the launch of the PlayStation 4.

Operating income for Sony decreased 200 billion yen year-over-year to 26.5 billion yen ($257 million ). This significant decrease was primarily due to decreases in gains on the sale of assets, a recording of 91.7 billion yen ($890 million) in losses related to the PC business, including restructuring charges, compared to 38.6 billion yen in PC business-related losses recorded in the previous fiscal year.

The company noted the increase in sales attributable to the new PlayStation 4 console, as well as a significant increase of smartphone sales. Sales in the gaming department increased 38.5 percent year-on-year to 979.2 billion yen ($9.5 billion). PlayStation 3 hardware sales decreased as expected with the release of a new console, but software for the same platform increased.

Newly appointed Sony Chief Financial Officer Kenichiro Yoshida said of this year that it is "the year to finish off our restructuring measures. Since we're in a very difficult situation ... we must not get the priorities mixed up."



By Electronista Staff
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  1. iphonerulez

    Fresh-Faced Recruit

    Joined: 11-28-08

    So, where is the cry saying that Sony is doomed. Nothing but silence. Doomed is the word only reserved for Apple because growth has slowed.

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