Headlines

Sony Looking Good — Just in Time

Reports strong 3Q, which may avert annual losses

Published

18 years ago

January 27, 2006

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Sony Corp. (Tokyo), which had been struggling, reported a surprising 17.5 percent increase in quarterly net profit and reversed its fiscal year forecast to a profit from a loss. Sales jumped 10.2 percent.

The biggest gains came in Sony's electronics division, which accounts for 70 percent of the company's revenues. Sales in the electronics unit were lifted by flat-panel televisions and the PlayStation Portable. Operating profits in the division soared 56 percent, outstripping expectations.

The company also reported particularly strong sales in the U.S. of liquid-crystal display and rear-projection televisions. The strong showing in the electronics unit led the company to upgrade its outlook for losses during the fiscal year ending March 31, 2006. That would have been the company's first annual loss in 11 years.

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