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Sony Game Division Shows Profit, Imminent PS3 Loss

Sony Game Division Shows Profit, Imminent PS3 Loss

April 27, 2006 | By David Jenkins

April 27, 2006 | By David Jenkins
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Officials from Sony have announced details of the company's fourth quarter results, for the period ended March 31st, which show a 66.5 billion ($578.7m) loss, more than the 56.5 billion ($491.7m) loss at the same time last year, even though the company's game division, which produces the PS2, PSP, and software for the two machines, still showed a profit.

Restructuring expenses of 75.3 billion ($655.3m) were blamed for the weak results - these expenses increased from 48.6 billion ($422.9m) in the previous year. Quarterly sales rose 8.7 percent to 1.85 trillion ($16.10bn), although much of this improvement was due to gains made from the currently weak yen.

For the firm's still-profitable games division, profits fell by 79.7 percent to 8.7 billion ($75.7m), although sales rose by 31.4 percent to 958.6 billion ($8.34bn). Hardware sales for the PSP were described as enjoying a significant increase worldwide, with PlayStation 2 hardware sales on par with the previous year. Software sales for the PlayStation 2 were down, but the increase in PSP sales meant overall software figures were relatively unchanged.

For the fiscal year as a whole, the company saw profits of 123.6 billion ($1.08bn), down 24.5 percent from 163.8 billion ($1.43bn) in fiscal 2004. The company has forecast a 130 billion ($1.13bn) profit for the new fiscal year, up 5 percent from the current results, on a sales increase of 10 percent to 8.2 trillion ($71.36bn).

The company also indicated that it expects its game division to post a loss of around 100 billion ($870.6m) for that year, hit by start-up costs for the PlayStation 3 which the company is assumed to be initially selling at a loss.


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