Sony Projects Surge In Current-Year Operating Profit

reported a net loss for the year ended March 31. However, the company expected a strong rise in its operating profit for the current fiscal year. For the current financial year, Sony projects operating income of Yen320 billion ($2.7 billion), up from 68.5 billion in the prior fiscal year. It also expects net income of Yen140 billion on sales of Yen7.9 trillion. Sony expects operating loss for its mobile communications division to shrank to 39 billion yen for the year, versus a loss of 217.6 billion yen in the prior. It also projects operating income for its devices division to climb to 121 billion yen, versus 89 billion yen. The company posted a net loss of Yen125.98 billion for the year, versus a year-ago loss of 128.37 billion. The company's operating profit for the year came in at Yen69 billion. Sony shares fell 1 percent to close at $30.70 yesterday.