Sony Corp announced its the results for the first quarter ending June 30th, 2006 (download PDF. Sony BMG's results are on page six.) For the first quarter of 2006, Sony BMG had equity in net loss of $40 million on revenues of $872 million. Its revenues were $147 million lower than the same period last year.

The company blamed its poor performance on "a year-to-year decrease in unit sales primarily due to the change in timing of several key releases into the second half of the calendar year, and the continued decline in the overall market." One of those bumped releases is OutKast's Idlewild, which will join a very strong release schedule in the second half of 2006. Coming are albums by Christina Aguilera, DMX, Beyonce, Justin Timberlake, Rod Stewart, Maroon 5, John Mayer, Taylor Hicks, Clay Aiken, Il Divo, Kenny Chesney, Monica, Jessica Simpson and Audioslave.