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Sony: PlayStation Network Breach Cost $171 Million

23 May, 2011 By: Chris Tribbey

Sony Corp. May 23 revised its full-year 2011 fiscal expectations, telling shareowners to expect a $3.2 billion loss, partly due to the devastating March earthquake that rocked Japan.

Additionally, the mid-April hacker attack that caused Sony to shutter its PlayStation Network for almost a month will cost the company $171 million.

“Sony expects to incur incremental expenses, including restoration costs (e.g., repair, removal and cleaning costs) directly related to the damages caused by the [earthquake] disaster to certain fixed assets, including buildings, machinery and equipment as well as inventories, in addition to charges for the disposal or impairments of fixed assets and inventories,” the company said in a statement.

Sony estimates that the earthquake impacted sales to the tune of $269 million.

Sony will report its earnings May 26.

About the Author: Chris Tribbey

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