Sony Now Sees Worse-than-expected Net Loss In Full Year - Quick Facts

(RTTNews) - Japanese consumer electronics firm Sony Corp. (SON.L, SNE) Thursday said it revised downward its forecast for net loss and operating income, while lifted sales view for the year ended March 31, 2014.

The company currently expects full-year net loss attributable to stockholders of 130 billion yen, compared to previous estimate of loss of 110 billion yen. In the prior year, the company's profit was 43 billion yen.

Operating income is now projected to be 26 billion yen, 67.5 percent lower than previous estimate of 80 billion yen.

Sony said it expects to record approximately 30 billion yen in additional expenses in the fiscal year related to exiting the PC business, and about 25 billion yen in impairment charges mainly related to its overseas disc manufacturing business.

However, the company now expects sales and operating income of 7.77 trillion yen, a growth of 0.9 percent from previous estimate of 7.70 trillion yen. On a year-over-year, sales are projected to grow 14.3 percent from last year's 6.8 trillion yen.