On the heels of Nintendo's $220 million quarterly loss, Sony released its consolidated financial results for its first fiscal quarter of the year, which ran from April 1, 2012 to June 30, 2012. Here is another version of the report.
The major takeaway is that the company as a whole lost another $312 million to add on top of its epic stock fall, debt downgrade, and a gigantic quarterly loss last year. It’s worth noting that a loss of $312 million is significantly lower than the $2.03 billion loss from Q3 of 2011, indicating that the company is on the upswing even if it’s still in the red.
The company notes that “the operating environment surrounding Sony in the first quarter continued to be difficult with the economy slowing in many areas of the world and the trend toward appreciation of the yen taking hold.” As Sony is also under a massive corporate restructure to streamline the company’s operations towards profitability, the company incurred “11.3 billion yen of restructuring charges included in the operating results,” inflating the loss. 11.3 billion yen is roughly equivalent to $14.5 million.
“Uncertain foreign exchange rates and trends in the global economy” have caused Sony to “downwardly [revise]” its fiscal year forecast moving forward.
Sony is a gigantic corporation, and the PlayStation brand is merely a segment of it (it’s the third biggest segment of the business by sales and operating revenue). But the PlayStation brand itself is also experiencing further financial difficulties. Sony notes that “Primarily due to the lowering of the annual unit sales forecast for portable hardware, sales are expected to be significantly lower than the May forecast… Sales are expected to be essentially flat and operating income is expected to decrease significantly year-on-year.”
Jumping further into the numbers, one finds a year-over-year sales fall. “Sales decreased 14.5% year-on-year (a 10% decrease on a constant currency basis) to 118.0 billion yen ($1.493 billion). This decrease was primarily due to lower sales of hardware and software of the PSP (PlayStation Portable) and PlayStation 3, partially offset by the contribution of the PlayStation Vita introduced from December 2011.”
Sony projects sales of PlayStation 2 and PlayStation 3 to amount to 16 million units globally during the entirety of its fiscal year. However, it has downgraded earlier estimates of 16 million PSPs and PlayStation Vitas sold during the fiscal year to 12 million. Its total software sales of 196.7 million units in 2011’s fiscal year is expected to be replicated in fiscal year 2012.
Source : feeds.ign.com
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