Sony Projects Net Loss For FY2011

Sony Corp SNE projects to post a huge net loss for the fiscal year ended in March. Sony lowered its net profit projections for the fiscal year that ended in March to a loss of Y260 billion, from a profit of Y70 billion in February. The company kept its guidance for a Y200 billion operating profit and lowered its revenue projections to Y7.181 trillion from Y7.200 trillion. Sony is scheduled to report its earnings for the last fiscal year this Thursday. Sony shares fell 0.62% to close at $27.05 on Friday. Read more from Benzinga's Company news.