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Sony swings to profit in fiscal Q4

Sony Corp. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥44.83 per share, compared with a loss of ¥17.33 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥52.38 billion, compared with a loss of ¥18.02 billion in the prior-year period.

The normalized profit margin increased to 2.9% from negative 1.0% in the year-earlier period.

Total revenue grew on an annual basis to ¥1.931 trillion from ¥1.859 trillion, and total operating expenses decreased on an annual basis to ¥1.801 trillion from ¥1.854 trillion.

Reported net income came to a loss of ¥106.79 billion, or a loss of ¥91.39 per share, compared to a loss of ¥138.24 billion, or a loss of ¥132.97 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥76.49 per share, an increase from ¥21.90 per share in the prior year.

Normalized net income was ¥85.24 billion, a gain from ¥22.49 billion in the prior year.

Full-year total revenue rose 5.7% on an annual basis to ¥8.209 trillion from ¥7.767 trillion, and total operating expenses rose on an annual basis to ¥7.917 trillion from ¥7.620 trillion.

The company said reported net income came to a loss of ¥125.97 billion, or a loss of ¥113.04 per share, in the full year, compared with a loss of ¥128.37 billion, or a loss of ¥124.99 per share, the prior year.

As of May 26, US$1 was equivalent to ¥123.07.