NJ5 on 16 December 2008
Well of course they will have a net loss. That was predictable weeks or more than a month ago. No company with 1% profit margins can keep posting profits after a ~20% decline in revenue from currency losses and a further decline due to a recession.
The real question is, how will they get out of this hole. The layoffs announced until now are nowhere near enough. Their problems go much further than $1 billion per year in savings can solve.
Keep in mind that $1.66 billion in losses includes profits in the first half of the fiscal year. In other words, the second half is predicted to generate staggering losses.
My Mario Kart Wii friend code: 2707-1866-0957
