Sony Loss Shrinks

Sony SNE, the Japanese entertainment giant, said its loss for the fiscal year that ended March 31 shrank to $439 million from about $976 million a year earlier, helped by cost-cutting and improved sales of consumer electronics. The company is forecasting a fiscal 2011 profit of about $537 million. Last year's loss was the first for Sony in 14 years. Sony shares are down 9% in the past month.