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Edition: U.S. Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read Deep-voiced Scotty McCreery wins "American Idol" 2:29am EDT Hedge fund star calls for Microsoft's Ballmer to go 25 May 2011 MSNBC suspends Schultz over Ingraham remark 25 May 2011 Casey Anthony "normal," "happy" after tot's death 1:37am EDT Hedge fund star calls for Microsoft CEO to go 1:51am EDT Discussed 327 Obama and Netanyahu face tense meeting on Mideast 127 As hours tick by, ”Judgment Day” looks a dud 105 Broadcaster silent as Judgment Day hours tick by Watched Ultra-realistic robots test our relationship with machines Wed, May 25 2011 Scientists revive ancient spider in stunning 3D detail Tue, May 24 2011 Deadly Missouri tornado captured on video Mon, May 23 2011 Sony forecasts $975 million net profit for current year Tweet Share this TOKYO (Reuters) - Sony Corp forecast a net profit of 80 billion yen ($975 million) on Thursday for the year that started on April 1, after net losses ballooned to 260 billion yen last business year on a tax credit write-off. That compares with... Email Print Related News Sony sees 20 percent rise in LCD TV sales in 2011/12 2:18am EDT Analysis & Opinion Tech wrap: Twitter swallows TweetDeck Tech wrap: Microsoft carts out Mango phone OS Related Topics Technology » Hot Stocks » Asian Markets » Media » A Sony Walkman audio player is seen at the company's showroom in Tokyo May 4, 2011. Credit: Reuters/Kim Kyung-Hoon TOKYO | Thu May 26, 2011 2:57am EDT TOKYO (Reuters) - Sony Corp forecast a net profit of 80 billion yen ($975 million) on Thursday for the year that started on April 1, after net losses ballooned to 260 billion yen last business year on a tax credit write-off. That compares with analysts' consensus of 105 billion yen, according to Thomson Reuters StarMine SmartEstimates, which places more weight on recent forecasts by top-rated analysts. The electronics and entertainment company also said it expects to make an operating profit of 200 billion yen this business year, level with last year and in line with guidance given earlier in the week. On Monday, Sony revised its net profit estimate for the year ended March 31, saying the impact of Japan's earthquake had clouded near-term prospects in the local market, forcing it to take a charge on tax credits. Sony is reeling from one of the biggest ever Internet security breaches, which forced it to close its PlayStation videogames network for nearly a month after data on tens of millions of user accounts was leaked. Hacking attacks exposed more than 100 million accounts on its online gaming network to possible data theft. On Tuesday Sony said additional websites in four countries had also been hacked. Among the break-ins, personal information for 8,500 people was leaked from its Greek Sony Music Entertainment website. Sony said on Monday it expects the hacking and damage caused by the earthquake to drag down operating profit by 164 billion yen in the current financial year. The company also predicted that it will sell 15 million of its flagship PlayStation 3 game consoles in the current business year compared with 14.3 million in the year just ended. Sony reiterated its plan to release a next generation portable games device by the end of 2011. It forecast liquid crystal TV sales of 27 million units compared with 22.4 million sets in the previous term, but declined to say whether it expected the unit to be profitable. Shares in Sony closed up 0.1 percent at 2,238 yen on Thursday ahead of the announcement, compared with a 1.5 percent gain in the benchmark Nikkei average. ($1 = 82.000 Japanese Yen) (Reporting by Isabel Reynolds; Editing by Anshuman Daga and Chris Gallagher) Technology Hot Stocks Asian Markets Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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