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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (176510)	6/30/2002 6:30:34 PM
From: Les H	Read Replies (1) \| Respond to of 436258

Quo Vadis Greenback? gold-eagle.com

To: Les H who wrote (176510)	6/30/2002 7:34:51 PM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 436258

Sony to post 5 bln yen loss in qtr-paper June 28, 2002 03:02 PM ET Email this article Printer friendly version NEW YORK, June 28 (Reuters) - Consumer electronics giant Sony Corp. 6758.T will likely post an operating loss of 5 billion yen ($41.8 million) for its first fiscal quarter, as it battles depressed electronics sales worldwide, a Japanese paper reported. That would be a smaller group operating loss than the previous quarter, but would reverse a profit of 3 billion yen in the quarter a year ago, due to struggling sales in chip and computer-related products, the Nihon Keizai Shimbun (Nikkei) said. Sony officials declined Friday to comment on the report. Without offering specifics, Sony forecast in April an operating loss for the quarter ending in June, due to restructuring costs from its loss-making unit Aiwa Co. Ltd. Aside from Aiwa and its U.S. movie unit, Columbia Tri-Star, there will be losses from the electronics division, which comprises 70 percent of the group's revenues and was the focus of last year's cost cutting, according to the Nikkei's online Saturday edition. PlayStation 2, Sony's crown jewel, has been selling briskly, along with DVD recorders and digital video cameras, the paper said. Sony, the world's biggest maker of audio and video products, will likely post quarterly sales of 1.7 trillion yen, up 4 percent, it said. In April, Sony forecast that consolidated operating profit would more than double this year to 280 billion yen, slightly above the analysts' consensus projection of 260 billion yen, based on tracking by Multex. The company expects 8.0 trillion yen in group revenues for the year, while rival Hitachi Ltd. 6501.T , the goliath of Japanese electronics makers, projects 8.1 trillion yen in sales along with a return to profit.