The Japanese electronic company said it expects another annual loss for the fiscal year ending March 2015. Sony expects a loss of -50 billion yen (about $489 million) for the fiscal year, smaller than the -128 billion yen loss is posted for the year ending Marc 2014.
Sony said it will spend 135 billion yen (about $1.32 billion) on restructuring in the next year on top of the 177.4 billion yen spent on restructuring in the previous fiscal year. The company announced in February that it would cut 5,000 jobs, sell the Vaio PC line, and split-off its TV unit.
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TheStreet Ratings team rates SONY CORP as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate SONY CORP (SNE) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and poor profit margins."