MuGen
04-28-2005, 01:27 PM
Sony Shows Year Profits Nearly Doubled
Game sales slow despite spunky PSP performance.
by David Adams
April 27, 2005 - Sony today reported slowing fourth quarter financials, though total profits for the year almost doubled from the company's fiscal 2003. Costly restructuring and slow sales of the company's mobile phone, portable music, and standard television product lines made for low quarterly numbers, though the Sony's PlayStation Portable picked up slack, selling 2.97 million units worldwide.
For the fiscal 2004 quarter ending March 31, 2005, the company reports a net loss $533 million for the fourth quarter of fiscal 2004, compared with a loss of $352 million in the same period last year. By contrast, full fiscal year net profit reached $1.5 billion, an 85 percent increase from fiscal 2003's net profit of $833 million.
Despite the relatively strong performance of the PSP worldwide, Sony's game division saw operating revenue drop 6.5 percent to $6.82 billion. Operating income decreased about 36 percent to $407 million. The company explains this is due largely to slow PlayStation 2 sales worldwide, as well as the console's newly reduced price. The company shipped 16.17 million PS2 hardware units and 252 million PS2 software titles worldwide.
Sony hopes to ship 12 million units of the PlayStation 2 in this fiscal year. Despite contributions from both PS2 and PSP sales, the company expects that the costs of developing the next PlayStation system will leave game division revenues essentially the same for the current year.
Link: http://ps2.ign.com/articles/608/608130p1.html
This is good to know.... their Consumer Electronics subsidy is doing bad, but Gaming is staying steady.
Game sales slow despite spunky PSP performance.
by David Adams
April 27, 2005 - Sony today reported slowing fourth quarter financials, though total profits for the year almost doubled from the company's fiscal 2003. Costly restructuring and slow sales of the company's mobile phone, portable music, and standard television product lines made for low quarterly numbers, though the Sony's PlayStation Portable picked up slack, selling 2.97 million units worldwide.
For the fiscal 2004 quarter ending March 31, 2005, the company reports a net loss $533 million for the fourth quarter of fiscal 2004, compared with a loss of $352 million in the same period last year. By contrast, full fiscal year net profit reached $1.5 billion, an 85 percent increase from fiscal 2003's net profit of $833 million.
Despite the relatively strong performance of the PSP worldwide, Sony's game division saw operating revenue drop 6.5 percent to $6.82 billion. Operating income decreased about 36 percent to $407 million. The company explains this is due largely to slow PlayStation 2 sales worldwide, as well as the console's newly reduced price. The company shipped 16.17 million PS2 hardware units and 252 million PS2 software titles worldwide.
Sony hopes to ship 12 million units of the PlayStation 2 in this fiscal year. Despite contributions from both PS2 and PSP sales, the company expects that the costs of developing the next PlayStation system will leave game division revenues essentially the same for the current year.
Link: http://ps2.ign.com/articles/608/608130p1.html
This is good to know.... their Consumer Electronics subsidy is doing bad, but Gaming is staying steady.