The new sony loss forces forecast drama
The new sony today revealed challenging financial recent results for its first quarter.
The organization endured an every three months operating lack of 15.3 billion yen ($136.a million), and it was made to cut its full-year forecast by 81 percent to 30 billion yen. The time does start adding some restructuring charges.
Sales within the electronics segment fell 1.4 percent. The organization continues to be hit by falling prices across its electronic devices markets: televisions, audio equipment, and camera image sensors.
“Within the Electronics segment, a practical loss was recorded mainly as a result of ongoing degeneration in the price of sales ratio caused by a loss of unit prices, in addition to a reduction in sales to outdoors customers,” the organization stated.
“Hanging around segment, an elevated operating loss was recorded because of both elevated marketing and advertising expenses and development and research costs.”
Searching at its music assets, the organization says the now merged The new sony BMG: “Recorded sales revenue of $1,019 million, loss before earnings taxes of $23 million, along with a internet lack of $18 million throughout the quarter ended June 30, 2005. Loss before earnings taxes includes $93 million of restructuring charges.”
In the financial announcement, The new sony stresses that on June 22, 2005, a brand new senior executive team required over responsibility for managing the organization.
The report confirms the organization is reviewing its business strategy and structure. “The announcement from the resulting plan’s likely to occur in September 2005,” the organization stated.