Sony Confirms Biggest Quarter Loss For Two Years News
Jon Wilcox
27/04/2005
Sony Corp. reports that Q4 2005 results are the worst for two years...
Last week we reported on the result of survey conducted by Bloomberg that showed analyst expectations of huge losses for Sony Corp. in Quarter 4 2005. Today, these expectations has been confirmed by the Corporation in a report to the Tokyo Stock Exchange.
The Q4 2005 results showed that Sony Corporation made a loss of 56.5 billion Yen ($532 million) in the three month period ending March 31st 2005, the worst quarterly results posted by the company in two years and an increased loss of 18.3 billion Yen ($172.6 million) compared to the same period in 2004. The report also announced that sales for the quarter fell to 1.70 trillion Yen from 1.77 trillion Yen in Q4 2004.
After such dismal results, investors must surely be now looking to Sony Corp. CEO Howard Stringer to turn around the company, which on a per-employee basis makes 20% of Apple Inc., and 6% of Samsung.
Weâll have more on Sony shortly...