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Earnings Drop at Sony

Second-quarter revenue is unchanged from a year ago.
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second-quarter revenue was unchanged from a year ago, mainly because of a lack of growth in its electronics segment and a decline in sales at its movie operation.

The Tokyo-based maker of laptop computers, stereos and TV sets said revenue from its game division was a bright spot, rising 79% on the strength of the PlayStation Portable. Sony Pictures' revenue fell 17.2% from a year ago.

Overall, revenue for the second quarter matched last year at 1.7 trillion yen ($15.1 billion). Net income for the quarter ended Sept. 30 was $252 million, or 24 cents a share. Measured in yen, earnings fell more than 46% from last year.

The company's electronics unit had revenue of $10.8 billion, and the game division had sales of $1.9 billion. Sales in Japan represented $4.5 billion of the total, while U.S. sales were $3.9 billion. Sales in Europe totaled $3.3 billion.

Among the product categories in Sony's electronics segment, sales of LCD flat panel TVs and video cameras rose, but sales of traditional and plasma TVs fell. Digital cameras also registered a decline.

In Tokyo trading, the company's shares were down 0.8%. Sony trades an American depositary receipt in the U.S.