Sony, oh Sony.
No, you had to go and tell the world that you’re forecasting a whopping $6.4 billion net loss (PDF) for the full year ended March 31, 2012. What will people say, Sony?
The struggling Japanese company this morning announced that it expects to book a net loss of about 520 billion yen (roughly $6.4 billion) for the full year, more than double its previous forecast from February.
That sounds disastrous, but it’s mainly because Sony will take an additional tax charge of around 300 billion yen (approximately $3.6 billion) in the fourth quarter, a non-cash charge that Sony says will have zero impact on its operating loss (or income) or its cash-flow, the company said in a statement.
Is that the best silver lining you have for us, Sony? Oh, it’s not?
The troubled electronics giant this morning also reaffirmed its sales and operating revenue outlook. Bleak as things may seem, Sony is currently forecasting that it will return to ‘positive operating results’ and that its consolidated income for the fiscal year ending March 31, 2013 will be approximately 180 billion yen.
Good. You had us worried there for a second, Sony.