Sony back to black in first quarter

TOKYO: Japanese electronics giant Sony on Thursday announced a profit of 25.7 billion yen (293 million dollars) for the fiscal first quarter, compared with a 37.1 billion yen loss a year ago.

The maker of Bravia televisions, PlayStation game consoles and Cyber-shot cameras upwardly revised its annual profit forecast by 20 percent to 60 billion yen in the year ending March 2011.

However, Sony warned that "further appreciation of the yen against the euro is expected for the remainder of the year" and revised its exchange forecast to 110 yen versus the euro, compared with 125 forecast in May.

It maintained its previous forecast of 90 yen to the dollar.

In the quarter ended June, Sony posted an operating profit of 67 billion yen compared to a loss the same time a year ago.

Shares in Sony closed 0.03 percent lower in Tokyo Thursday before the earnings announcement.