NEW YORK (TheStreet) -- Sony (SNE) stock is enduring a tough trading session Wednesday after the company guided for another fiscal loss this year, its sixth annual loss in seven years. The Japanese tech company has struggled to turn a profit in recent years on flagging sales in consumer electronics and expensive restructuring moves.
For the fiscal year to March 2015, Sony said it expects to splash 135 billion yen ($1.3 billion) on restructuring costs as it nixes its unprofitable businesses related to PC and disc storage sales. In particular, its sale of laptop brand VAIO, scheduled to close in July, is expected to drag on profits.
By late afternoon, shares had dropped 7.3% to $16.36.
- You can view the full analysis from the report here: SNE Ratings Report
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