Sony posted loss

Japan's Sony on Monday said it expected to swing to a $ 3.2 billion
net loss for the fiscal year ended March, after delaying its corporate
results to gauge damage from the March 11 earthquake and tsunami. The
latest setback for the technology and entertainment giant comes as it
tries to recover from the impact of the disasters and a massive online
hacking attack that compromised millions of users of its network
services. In a preliminary earnings statement, Sony revised February's
forecast for a 70 billion yen net profit and now expects a net annual
loss of 260 billion yen ($3.2 billion), citing a charge for deferred
tax assets. The firm is due to report its full earnings on Thursday.
The technology and entertainment giant said consolidated sales and
operating revenue are expected to be in line with February's forecasts
despite the impact of the earthquake and tsunami on production. The
maker of PlayStation consoles and Bravia televisions was forced to
shutter plants after the disasters battered supply chains and damaged
facilities. The company said it would book a 360 billion yen non- cash
deferred tax-asset related charge. Cyber attacks in recent weeks
involved the theft of personal data that include names, passwords and
addresses from more than 100 million accounts on its PlayStation
Network and Sony Online Entertainment services. Sony shut down the
PlayStation Network and Qriocity services on April 20.
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