Sony Returns to Profit, PlayStation Business Sales Down - NewsWilliam D'Angelo, posted on 09 May 2013 / 6,558 Views
Sony has released its fiscal report for its last fiscal year which ended March 31, 2013. The company posted revenue of ¥6.8 trillion ($68.8 billion), up from ¥6.49 trillion ($65.7 billion) the previous fiscal year. Sony for the first time in five years posted a profit of ¥43.0 billion ($435 million), up from a loss of ¥456.7 billion ($4.6 billion).
Sony's PlayStation division posted revenue of ¥707.1 billion ($7.2 billion), a drop from ¥805.0 billion ($8.1 billion) from the previous fiscal year. Operating income dropped a significant 94.1 percent to ¥1.7 billion ($17.2 million), from ¥29.3 billion ($296.4 million).
The drop in revenue was due to the decrease in sales of the PlayStation 3, PSP and PlayStation Vita hardware, as well as the PSP software. The operating income drop was due to the poor PSP sales, as well as the PlayStation Vita price cut in Japan.
Sony also released its shipment figures for its video game platforms. The company shipped 16.5 million units for the PlayStation 3 and PlayStation 2 combined. This is a 1.5 million unit drop, compared to the 18 million units shipped the previous fiscal year. Combined PlayStation Vita and PSP shipments increased slightly to 7.0 million units, from 6.8 million units.
Sony also released software figures, which were all down compared to the previous fiscal year. 153.9 million PlayStation 3 and PlayStation 2 games were shipped, a drop from 164.5 million units. There were 28.8 million games shipped for the PlayStation Vita and PSP for the fiscal year, which is down from 32.2 million.
For its current fiscal year, which ends March 31, 2014, Sony expects to ship a combined 10 million PlayStation 3 and PlayStation 2 units. The company is also expecting a drop in handheld shipments of just five million units for the PlayStation Vita and PSP combined. However, despite those drops the company does expect sales to increase due to the release of the PlayStation 4 later this year.
Overall, Sony expects revenue of ¥7.5 trillion ($75.9 billion) for the current fiscal year, which is a 10.3 percent increase year-over-year. Sony also expects profits to increase by 16.2 percent to ¥50 billion ($505.8 million). Sony expects the yen to depreciate in value which will help their bottom line. Sony also expects to spend ¥50 billion in restructuring, which is down from ¥77.5 billion the previous fiscal year.