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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 18 4:00 PM EST

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To: GVTucker who wrote (48327)	4/28/2000 5:10:00 AM
From: Haim R. Branisteanu	Read Replies (1) of 99985

Sony earnings results/forecasts--summary biz.yahoo.com TOKYO, April 28 (Reuters) - Japanese electronics and entertainment giant Sony Corp said on Friday it expects its group net profit in the current business year started on April 1 will be virtually flat at about 120 billion yen. The company said strong demand for digital audio visual products and information and communications equipment will help boost its group sales, but growing competition in the digital network area and currency fluctuations could continue to pressure the company's profits. Sony also said: -- Its earnings forecasts for 2000/01 are based on assumed exchange rates of 105 yen per dollar and 103 yen per euro. -- The forecasts do not include the effect of proposed new accounting rules in the United States. If adopted, its operating profit, pretax profit and net profit could decrease by approximately $200 to $250 million. Sony would also have to record a one-time special loss of $900 to $950 million related to changes in the accounting rules but this would have no impact on cash flow. __________________________________________________________ Sony 4th-Qtr Loss Almost Doubles on PS2 Startup Costs (Update2) By Hiroshi Suzuki Tokyo, April 28 (Bloomberg) -- Sony Corp., maker of the PlayStation video-game box, said its loss in the January-March quarter almost doubled as earnings at its game division slipped because of startup costs to develop and market a more advanced version of the best-selling game console. Group net loss at the world's second-largest electric appliance maker in the three months to March 31 widened to 36.7 billion yen, or 81.6 yen a share, from 19.4 billion yen, or 47.2 yen, in the year-ago period. The results were slightly better than the average forecast of four analysts surveyed by Bloomberg News. Sales rose to 1.65 trillion yen from 1.48 trillion yen. bloomberg.com

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