French specialist technology group Thomson said Thursday it slipped into the red in 2007 as the company restructured to focus on digital media after selling off its traditional electronics business.
Thomson said it had a net loss of 23 million euros (33.6 million dollars) last year compared with a profit of 55 million euros in 2006 as sales fell 2.6 percent to 5.63 billion euros.
Analysts had forecast a net profit of 7.0 million euros on sales of around 5.7 billion euros.
Thomson said sales and profit in the services and technology division were satisfactory but its systems business for professionals in digital video was disappointing.
Despite an "uncertain economic outlook for 2008," Thomson said it hoped to return to profit this year, comparable to the 2006 outcome, as restructuring costs should be less than 30 million euros.
