| MUMBAI:
Japanese media and electronics major Sony has announced its financial results
for the year ended 31 March, 2006. Net income fell 24.5 per cent to $1.06 billion,
while revenues were up 4.4 percent to $63.9 billion and operating income jumped
by 68 per cent to $1.64 billion. Investment gains and the
good performance of flat television sets were responsible for the good operating
income results. But, start-up costs for the PlayStation 3 will affect the game
division and push it deep into the red. At the gaming division, revenues
were up 31.4 percent to $8.2 billion, but operating income fell by 80 per cent
to $75 million At Sony Pictures Entertainment,
revenues were up just 1.7 per cent to $6.4 billion, while operating income dropped
57.1 per cent to $234 million. The company attributed the slump to lower worldwide
theatrical and home entertainment revenues on feature films, which partially offset
an increase in television product revenues. The increase in television
revenues is due to higher advertising and subscription sales from several of SPE's
international channels, higher sales of television library product and the extension
of a licensing agreement for Wheel of Fortune. | 
