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xbhaskarx
(05-23-2011, 10:24 AM)
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Reuters: Sony estimates FY 2010/11 net loss, revises from profit

Sony on Monday changed its earnings estimate for the year to March 2011 to a net loss of 260 billion yen ($3.2 billion) from a profit of 70 billion, in the company's first indication of the financial impact of the devastating March earthquake and tsunami.

The company maintained its estimate of an operating profit of 200 billion yen, which compares with analysts' consensus of 197 billion yen, according to a SmartEstimate by ThomsonReuters I/B/E/S. SmartEstimates place additional weight on recent forecasts by top-rated analysts.

Bloomberg: Sony Posts Full-Year Loss $3.2 Billion, Confounding Estimates for Profit

Sony Corp. (6758), Japanís largest exporter of consumer electronics, unexpectedly reported a third straight annual loss, citing a charge for deferred tax assets.

The net loss was 260 billion yen ($3.2 billion) in the year ended March 31, including a 360 billion yen charge for deferred tax assets, the Tokyo-based company said in a preliminary earnings statement today. That compares with the 76 billion yen profit average of 10 analyst estimates compiled by Bloomberg in the past 28 days and Sonyís previous forecast for annual profit of 70 billion yen.

The maker of Bravia televisions is struggling to improve earnings even after restarting plants that were disrupted by Japanís 9-magnitude temblor and ensuing power shortages. The company is trying to fully resume its PlayStation Network and Qriocity online services after an attack by hackers compromised personal information from more than 100 million user accounts.

Operating income, or sales minus the cost of goods sold and administrative expenses, increased to about 200 billion yen while revenue declined 0.5 percent to 7.18 trillion yen, Sony said. That compares with the 206 billion yen and 7.2 trillion yen averages of analyst estimates compiled by Bloomberg.

Sony fell 0.5 percent to close at 2,211 yen in Tokyo trading today before the announcement. The stock has dropped 24 percent this year, more than triple the 7.5 percent decline by Japanís benchmark Nikkei 225 Stock Average.

Financial Times: Sony results hit by hackers and quake

Sony has posted a Y260bn ($3.18bn) net loss for the year ended March 31 due to the impact of Japanís quake and tsunami and the hacker attacks that forced it to shut down its PlayStation Network, the Japanese electronics company revealed in a preliminary earnings statement Monday.

The company had called a news conference on Monday for 5.30pm local time to announce the revision. Companies listed on the Tokyo Stock Exchange are required to inform investors if they believe they will miss earnings targets by 30 per cent or more.

Sony was scheduled to report fourth-quarter and full-year results on Thursday. Analysts had been expecting a Y76bn profit and the company had forecast net income of Y70bn.

Last week Sir Howard Stringer, chief executive, acknowledged that Sony would lose money and customers as a result of the theft of customer information by the hackers, though he did not say how much.

Names, addresses and network passwords belonging to 100m people, including all PSN users, were stolen in the attack.

I can't find the 2010 thread but here is the one from 2009: Sony to post first loss in 14 years of •150B