Sony FY2011: $5.5B Loss; PS3 is #1 despite Thai Flood

Parmenides

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Sony Corporation announced its consolidated results for the Fiscal Year ended March 31,2012 (April 1, 2011 to March 31, 2012)

Earnings Release


Code:
(Millions of U.S. dollars)


Fiscal Year Ended March 31            2011           2012


Sales and Operating Revenue          $86,521        $79,186

Operating Income (Loss)              $2,407         ($820) 

Income (Loss) before Income Taxes    $2,470         ($1,014)

Income Taxes (**)                    ($5,125)       ($3,845)

Non-controlling Interests             ($473)         ($710)

Net Income (Loss) [Stockholders]     ($3,128)       ($5,569)




(**)Non-Cash Charge from DTAVA       ($4,365)       ($3,174)



DTAVA - Deferred Tax Asset Valuation Allowance


Sony's CFO: PS3 was affected by the Thai Flood

Masaru Kato said:
Our products like PlayStation 3, the sales trend is quite firm, but it was nevertheless affected by the Thai flood. The destruction of supply chain adversely affected the PlayStation. So as is shown in your materials, we have reduced our forecast by 1 million units for the entire year.

(Sony Corporation F3Q11 Earnings Conference Call February 2, 2012 )


Unit Sales For The Fiscal Year Ended March 31 (Unit: Million)
Code:
Hardware   (Ap-Jn)'11   (Jl-Sp)'11   (Oc-Dc)'11   (Ja-Mr)'12     FY 2011       


  PS3         1.8          3.7          6.5          1.9          13.9   

  360         1.7          2.3          8.2          1.4          13.6   

  3DS         0.71         2.36         8.36         2.10         13.53   

  Wii         1.56         1.79         5.61         0.88         9.84  

  PSP         1.8          1.7          2.4          0.9          6.8   
 
  NDS         1.44         1.14         2.06         0.46         5.10   

  PS2         1.4          1.2          0.9          0.6          4.1   




Hardware   (Ap-Jn)'10   (Jl-Sp)'10   (Oc-Dc)'10   (Ja-Mr)'11     FY 2010       


  NDS         3.15         3.54         9.01         1.82         17.52   

  Wii         3.04         1.93         8.75         1.36         15.08  

  PS3         2.4          3.5          6.3          2.1          14.3   

  360         1.5          2.8          6.3          2.7          13.3   

  PSP         1.2          1.5          3.6          1.7          8.0   
 
  PS2         1.6          1.5          2.1          1.2          6.4   

  3DS          -            -            -           3.61         3.61  


-Microsoft's Fiscal Year begins on July 1 and ends on June 30

-Sources: Sony,Nintendo,Microsoft (Sell-in Numbers)
Microsoft Q3 Results // Nintendo FY 2011/12



Forecasted Unit Sales For The Full Fiscal Year Ending March 31, 2013 (Unit: Million)
Code:
Hardware   3DS     (PS3+PS2)    (Wii + Wii U)   (PSV+PSP)      NDS
	
Sales      18.5      16.0           10.5          16.0         2.5


-Sources: Sony,Nintendo (Sell-in Numbers)

LTD Hardware Sales (Unit: Million)
Code:
 PS2     NDS     Wii     PSP     360     PS3     3DS     PSV
	
155.1   151.52   95.85   76.3    67.2    63.9    17.13   1.8


-Sources: Sony,Nintendo,Microsoft (Sell-in Numbers)

Worldwide Vita Sales Revealed in Sony Earnings Call (1.8 million)

For the current fiscal year ending March 31, 2013, Sony expects to sell 10 million PSVs (Gamasutra)


The company's financial results stated that the PSP and PS Vita will sell 16.0 million hardware units combined during the current fiscal year. When asked by an investor whether 10 million of this total will be the PS Vita, Hirai answered, "The volume is as you imagine."


PS3 Worldwide Unit Sales (Unit: Million)
Code:
Hardware Sales   Ap-Jn    Jl-Sp    Oc-Dc    Ja-Mr     FY       LTD

FY 2006/07         -        -       1.7      1.8      3.5      3.5

FY 2007/08        0.7      1.3      4.9      2.2      9.1      12.6 

FY 2008/09        1.6      2.4      4.5      1.6      10.1     22.7 

FY 2009/10        1.1      3.2      6.5      2.2      13.0     35.7

FY 2010/11        2.4      3.5      6.3      2.1      14.3     50.0

FY 2011/12        1.8      3.7      6.5      1.9      13.9     63.9


Software Sales   Ap-Jn    Jl-Sp    Oc-Dc    Ja-Mr     FY       LTD

FY 2006/07         -        -       5.2      8.1      13.3     13.3

FY 2007/08        4.7      10.4     26.0     16.8     57.9     71.2 

FY 2008/09        22.8     21.2     40.8     18.9     103.7    174.9 

FY 2009/10        14.8     23.9     47.6     29.3     115.6    290.5

FY 2010/11        24.8     35.3     57.6     30.2     147.9    438.4

FY 2011/12        26.1     37.4     66.2     26.9     156.6    595.0


PS2 Worldwide Unit Sales (Unit: Million)
Code:
Hardware Sales   Ap-Jn    Jl-Sp    Oc-Dc    Ja-Mr     FY       LTD

FY 2006/07        2.3      3.4      6.7      2.4      14.8     115.6 

FY 2007/08        2.7      3.2      5.4      2.4      13.7     129.3 

FY 2008/09        1.5      2.5      2.5      1.4      7.9      137.2 

FY 2009/10        1.6      1.9      2.1      1.7      7.3      144.5

FY 2010/11        1.6      1.5      2.1      1.2      6.4      150.9

FY 2011/12        1.4      1.2      0.9      0.6      4.1      155.1


Software Sales    Ap-Jn    Jl-Sp    Oc-Dc    Ja-Mr    FY       LTD

FY 2006/07        32.7     47.2     78.6     35.0     193.5    1232.5

FY 2007/08        31.1     38.0     60.9     24.0     154.0    1386.5 

FY 2008/09        19.3     23.2     29.7     11.3     83.5     1470.0 

FY 2009/10        8.5      11.4     11.2     4.6      35.7     1505.7

FY 2010/11        3.4      5.6      5.3      2.1      16.4     1522.1

FY 2011/12        1.5      2.8      2.5      1.1      7.9      1530.0

PSP Worldwide Unit Sales (Unit:Million)
Code:
Hardware Sales   Ap-Jn    Jl-Sp    Oc-Dc    Ja-Mr     FY       LTD

FY 2006/07        1.4      2.0      4.7      1.5      9.6      23.7 

FY 2007/08        2.1      2.5      5.7      3.5      13.8     37.5 

FY 2008/09        3.7      3.2      5.1      2.1      14.1     51.6 

FY 2009/10        1.3      3.0      4.2      1.4      9.9      61.5

FY 2010/11        1.2      1.5      3.6      1.7      8.0      69.5

FY 2011/12        1.8      1.7      2.4      0.9      6.8      76.3


Software Sales   Ap-Jn    Jl-Sp    Oc-Dc    Ja-Mr     FY       LTD

FY 2006/07        9.2      13.2     21.2     11.1     54.7     101.4

FY 2007/08        9.8      12.6     18.3     14.8     55.3     156.7 

FY 2008/09        11.8     11.8     15.5     11.2     50.3     207.0 

FY 2009/10        8.3      13.0     15.0     8.1      44.4     251.4

FY 2010/11        9.2      11.0     16.5     9.9      46.6     298.0

FY 2011/12        6.6      8.2      11.4     6.0      32.2     330.2
Global Sales: PS2 138.8M; PSP 52.9M; PS3 23.7M (June 2009)

PS2 has sold over 144.5M worldwide; PSP 61.5M; PS3 35.7M (March 2010)

PS2 has sold over 147.6M ;over 1.5B Units of PS2 Games have been sold (September 2010)

PS2 Sell-in Reaches 150M (Jan 31,2011);over 1.52B Units of PS2 Software sold (End of Dec, 2011)

PS3 Sell-in Reaches 50M (March 29,2011)

PSP Sell-in Reaches 70M (April 27, 2011);Cumulative Software Sales Reach 298M (End of March 2011)

PS2 has sold over 153.6M worldwide; PSP over 73.0M; PS3 55.5M (September 2011)






 

Erethian

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Jan 20, 2010
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Whatever Sony is on to think they can ship 16 million handhelds (PSP+Vita) next financial year, I... don't want it. Brain disease is a terrible thing. :(
 

NateDrake

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Dec 12, 2010
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Not good to see Sony combining Vita & PSP in their forecast projection nor total neglect in their financial report.
 

antonz

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May 12, 2010
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Based on that they expect to sell nearly 10 million vita? That is just insanity
 

EnderWiggles

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Aug 30, 2011
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LTD Hardware Sales (Unit: Million)
Code:
 PS2     NDS     Wii     PSP     360     PS3     3DS     
	
1551.   151.52   95.85   76.3    67.2    63.9    17.13   


-Sources: Sony,Nintendo,Microsoft (Sell-in Numbers)
A billion PS2's sold confirmed
 

Zaptruder

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Jun 7, 2004
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Can we get a picture of the dunce drawing the line graphs... but with the dunce faced shopped out with the face of nostradamus?
 

antonz

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Could be a knock on from the effect on the hdd market, as every ps3 has to have one
Its without a doubt tied the the HDD factory floodings but it certainly never got to a point PS3s were missing from shelves or HDDs themselves. Worst side effect of it all was HDD prices jumping 20-50% on average
 

Truth101

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Jul 15, 2009
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They actually rolled together their Vita and PSP forecasts.

Interesting...

Yeah, there are definitely not going to be any shortages for the Thai flood. Whoever wrote the PR was probably told to find some event that made them lowering their forecast look better.
 

onQ123

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May 1, 2010
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PS2 still moved 4 million 6 years after the new generation of consoles started & if it wasn't for the holiday bump it would be neck & neck with the wii this FY that's amazing.
 

Radec

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Sep 2, 2010
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So its just 3.3m units difference between the 360 and PS3.

Hmmn.. new 360 @ E3 imminent?
 

specialguy

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Feb 17, 2011
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Not nearly as high a PS3 ship number as I expected. Not really a good result imo.

And they're not going to separate out Vita shipments? Yuck. Next thing you know they'll start combing PS3+PS2.
 

Dalthien

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Jun 1, 2005
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Based on that they expect to sell nearly 10 million vita? That is just insanity
There's no way PSP gets anywhere near 6 million this year. More like 3-4 Million. Which means Sony is expecting somewhere in the range of 12-13M Vita sold for the year.
 

Kyou

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Jan 25, 2010
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Not nearly as high a PS3 ship number as I expected. Not really a good result imo.

And they're not going to separate out Vita shipments? Yuck. Next thing you know they'll start combing PS3+PS2.
Return of "Playstation Family"!
 

StevieP

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Sep 10, 2006
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Investors couldn't give two shits about the video game hardware unit forecasts. It's a blip on the radar of things they care about when it comes to current day Sony.
As you probably recall, Sony's recently pimped the gaming division as one of the "guaranteed"(ish) saviours to the investor media.
 

shinra-bansho

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Nov 13, 2011
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Oh - on further thought - does that mean they're going to include all launch Vita's in FY12's shipment numbers?

I suppose that might knock about 1.7-2M off the projection.
Sony and Microsoft, as noted in the report in the OP, report sell-in numbers... i.e. sold to retailers. Sony used to report shipped, out of factories, numbers a looooong time ago.
All three report sell-in, afaik.
 

Panajev2001a

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They must mean shipped rather than sold.
Sony, Microsoft and Nintendo (fixed, thanks shinra-bansho), as noted in the report in the OP, report sell-in numbers... i.e. sold to retailers. Sony used to report shipped, out of factories, numbers a looooong time ago.
 

StevieP

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Sep 10, 2006
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What caused them to lose that much money?
The company is not doing too hot in any of the segments it participates in, or its product lines, or its financial health. It's been a bit tough for Sony lately.
 

Dapperk

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Based on that they expect to sell nearly 10 million vita? That is just insanity
It's all good, they'll just blame the latest natural disaster or war or whatever crisis in the world for their missing the target. Funny how Nintendo, MS, Apple, Samsung etc,... don't seem to ever be as affected.
 

Panajev2001a

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i think its like this for quite some time already. some years ago i thought sony would be able to catch up but unless ms just stops selling any more 360 i dont see that happening. maybe if they make a quick transition to the 720 though.
It's still a nice turnaround for PS3, you count a 1 year headstart with a rather not too positive first year on the market and the PS3 did wonders with the rest of its time on the market.
 

GopherD

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Oct 15, 2011
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What caused them to lose that much money?
It actually "only" operationally lost 1 billion but had to setup a valuation for tax credits they couldn't claim anymore that cost the rest.

ie. operational 1 billion lost, paper loss of the rest.
 

boiled goose

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It is interesting how the PS2 and DS behaved so differently at the ends of their respective generations.

Nintendo effectively replaced DS with 3DS.
No games are being released for the DS despite the 3DS being about a year old.

The PS2 still sells to this day.

Is it just a difference in philosophy from the manufacturers?
 

StevieP

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Sep 10, 2006
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Is it just a difference in philosophy from the manufacturers?
PS2 being a port buddy with the Wii helped get it more software during parts of this generation. So did the 698950656956927662856954796854903836085469546845786954037689045760894768946507867084674 pieces of quality software on the PS2 and the budget prices.
 

Truth101

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Jul 15, 2009
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It is interesting how the PS2 and DS behaved so differently at the ends of their respective generations.

Nintendo effectively replaced DS with 3DS.
No games are being released for the DS despite the 3DS being about a year old.

The PS2 still sells to this day.

Is it just a difference in philosophy from the manufacturers?
The PS2 is still incredibly popular in developing countries. It is cheap and has a huge backlog of excellent games.
 

DBT85

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You dont make those kind of predictions for Vita & PSP sales without thinking it can happen. Everyone said the same thing when they said X million ps3s a few years back and they launched the slim and only came in fractionally shy iirc.

If they think they can shift probably 10 million Vitas after the initial sales they have seen, they must have a valid reason. I want to know what it is.
 

dc89

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You dont make those kind of predictions for Vita & PSP sales without thinking it can happen. Everyone said the same thing when they said X million ps3s a few years back and they launched the slim and only came in fractionally shy iirc.

If they think they can shift probably 10 million Vitas after the initial sales they have seen, they must have a valid reason. I want to know what it is.
Crystal White Vita!
 

Kazerei

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Nov 25, 2010
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No Vita sales numbers? Hmmm.

16 million forecast for PSP+PSV seems way too high. The 3DS didn't even make that target.
 

Burai

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Oct 19, 2006
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It is interesting how the PS2 and DS behaved so differently at the ends of their respective generations.

Nintendo effectively replaced DS with 3DS.
No games are being released for the DS despite the 3DS being about a year old.

The PS2 still sells to this day.

Is it just a difference in philosophy from the manufacturers?
Nintendo has kept the DS price high and the 3DS price low to stop consumers opting for a DS over a 3DS. They basically killed the DS off early to boost the 3DS.

PS2 sales were never cannibalising the PS3 so there was no need for Sony to prematurely kill it. We're going beyond the ten year cycle and it still makes money.