je.st
news
Sony cuts FY outlook on extra costs for PC exit
2014-05-01 09:08:00| Telecompaper Headlines
(Telecompaper) Sony has cut its profit forecast for its fiscal year to March 2014, due to extra costs for shutting down its PC business and a slowdown in its disc manufacturing business. The company said it will book JPY 30 billion in restructuring charges for the earlier announced exit from the PC business. These had previously been expected to fall in the following fiscal year, to March 2015, but have been moved forward. It will also book a JPY 25 billion impairment on the disc business, due to a slowdown particularly in Europe of CD and DVD sales and expected lower profitability from the activities in future. As a result, Sony expects an annual net loss of JPY 130 billion, versus a forecast in February for a loss of JPY 110 billion and a profit of JPY 43 billion in the previous year. The estimate for operating profit was cut to JPY 26 billion from 80 billion, while the sales outlook slightly increased, by 0.9 percent to JPY 7.77 trillion.
Tags: pc
extra
costs
sony
Category:Telecommunications