Sony Reports $312 Million Loss In Q1 2012
Sony has reported their Q1 2012 results for the fiscal year. The company has lost $312 million on sales of $19.2 billion. The good news is that Sony reported an increase on sales year-on-year by 1.4%. This was largely attributed to the consolidation of Sony Mobile. However they had to deal with $143 million in restructuring costs. This caused operating income to slide from $270 million to $79 million. Between the restructuring issue, the high yen, and instability in the Europe economy, Sony has downgraded their operating profit forecast for the year from $2.29 billion to $1.66 billion.