Sony Profits Up for the Quarter Ended 3/31

Discussion in 'Music' started by Lee Scoggins, Jul 28, 2004.

  1. Lee Scoggins

    Lee Scoggins Producer

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    To continue the discussion on Sony's financial position:

    http://www.nytimes.com/aponline/busi...apan-Sony.html

    $210 million in profit the past quarter exceeded expectations and music and movies seem to be recovering.

    I think the big events are the BMG merger and the pending release of the new portable playstation device.

    I think we are seeing some stabilizing of Sony and benefits from the improving economy.
     
  2. Rachael B

    Rachael B Producer

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    Eh Lee, you a stockholder?[​IMG]
     
  3. Lee Scoggins

    Lee Scoggins Producer

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    No, I don't hold any entertainment stocks. Most of my money is in private technology.

    Just thought some here would like an update on earnings following our prior discussion. I understand that Matsushita and Toshiba had good results as well.

    Maybe this bodes well for hirez and BluRay/HD-DVD...
     
  4. Paul.S

    Paul.S Producer

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  5. Lee Scoggins

    Lee Scoggins Producer

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    Thanks Paul.
     
  6. Justin Lane

    Justin Lane Cinematographer

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    Thanks for the link Paul. Once again not one mention of anything SA-CD related in the entire report. This does not bode well for the format from a Sony standpoint. We can only hope they get fully on board with Dual-Disc at this point in time.

    J
     
  7. Lee Scoggins

    Lee Scoggins Producer

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    Of course not, there was no specific mention of many big Sony initiatives. That is common for such brief qtrly earnings releases and not indicative of anything.

    To draw any conclusions from an absence of a mention in a quarterly report is just juvenile and uninformed.
     
  8. Michael St. Clair

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    That's kind of a personal attack. I don't think any of us at HTF need to call each other juvenile.

    Lee, do you have a theory as to why Sony mentions their MiniDisc and Blu-Ray technology in their shareholder reports, but never mentions SACD? Do you feel this reflects anything about their support and commitment to their technology? You seem to have a deep interest in Sony, so I figure you must at least have some thoughts.
     
  9. Lee Scoggins

    Lee Scoggins Producer

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    Yes, shareholder reports often do not capture everything that is going on at big conglomerates like Sony-they try to just hit some of the more topical things like BluRay. Sony is a big company and SACD is just a part of it. Earnings reports are notoriously short on any business description. Look at all the press on the Warner Music Group-not once did I read anything on DVDA but that does not mean they have abandoned DVDA (although its hard to tell from the trickle of title releases).

    Sony has mentioned SACD as part of its Qualia announcements, in fact the earlier Qualia announcements made much about the 007 SACD player. Also look at Sony's SACD site, it is rare for them to set up a separate site. A better indicator is the number of press releases on the format. There are often AES and CES announcements. Sony talks corporately a lot about SACD.

    You can't judge a company's product market progress or innovation by reading financial statements. The better way is to judge what people say. Michael Smith the head of Sony North America's consumer electronics division said at HE2004 that Sony is pleased with Super Audio and plans to keep supporting it. I asked him about DualDisc and he said it would not interfere with their ongoing support for SACD. In fact, he said that Sony views the two music formats as different solutions for different markets.
     
  10. Justin Lane

    Justin Lane Cinematographer

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    You just made my point. Qualia is insignificant from a mainstream high profit viewpoint.

    Seeing how Sony touts music DVD-sales, it looks like Dual-Disc which will be more of a value packed product could be a big seller for them. I saw over on Audio Asylum they are even sponsoring an upcoming Dual Disc talk. This is very good news indeed.

    J
     
  11. Lee Scoggins

    Lee Scoggins Producer

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    I'm all for anything that increases hirez output of any stripe.

    I don't any Sony stock or any other media/CE stock for that matter.
     
  12. Chu Gai

    Chu Gai Lead Actor

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    Lee, when the hell did you move to Jackson Hole? Gonna ski?
     
  13. Lee Scoggins

    Lee Scoggins Producer

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    The skiing is good, the horses are excellent and the scenery is breathtaking. It's the kind of place where you can go to the local steakhouse and stand in line with Harrison Ford.

    Real estate is high though since the county is 97% protected federal park land. The average home here must be $2 million.
     
  14. dpippel

    dpippel HTF Premium Member
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    Property values are sky-high because of all the wealthy people with disposable income who have moved there over the last 15 years. Pretty sad when a lot of the teachers in Jackson's public schools have to live in Driggs, Idaho and drive over Teton Pass every day because they can't afford housing there.

    Oops - totally off-topic. [​IMG]
     
  15. Lee Scoggins

    Lee Scoggins Producer

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    I'm not sure it's sad and I will tell you why. Teh property is scarce which keeps the parks and land beautiful. That is what has attracted much of the economic activity. It's a real magnet for celebrities and wealthy businessmen.

    What's also interested is our weather pattern which seems almost unique to the county. You can fly here from just Salt Lake City and be in a literally different season.
     

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