Sony has reported further disappointing fiscal results.

Japanese electronics company Sony’s financial woes continued this week as it has reported another fall in sales in its first quarter results.

Sony made a net loss of ¥37.1 billion (£237 million) in the quarter ending 30 June compared with a profit of ¥35bn for April to June last year.

The fall in profits has been attributed to the continued slowdown of the global economy and the appreciation of the Japanese Yen.

Despite the large drop in sales, the loss was in fact not as bad as anticipated, mainly due to Sony’s ardent cost-cutting measures.

The latest results add support to Sony’s prediction of making an annual loss this year, following the company’s first-ever annual loss in May.

Compared to a year earlier, Sony’s revenue in this quarter was down 19.2% from ¥1.6 trillion.

Sales of its core consumer electronic products including televisions and digital cameras have fallen by 27%.

Sony will continue with its previously-announced jobs cuts, which will reduce 10% of its global capacity and slash approximately 16,000 jobs worldwide.

In its statement, Sony commented that the company’s outlook for the fiscal year ending 2010 remained uncertain.