Sharp Reports Profitable Fiscal Half-Year; Forecasts Higher Sales for Full Year
Sharp Corporation of Japan reported results for the first half of its fiscal year (April to September 2014), with net sales of 1,326.6 billion yen, down 1.1 percent versus the same period a year ago, operating income of 29.2 billion yen, down 13.6 percent, but net income improving by 9.0 billion yen from a loss of 4.3 billion for the same period a year ago to 4.7 billion yen.
Sharp says sales of Digital Information Equipment and Energy Solutions were lower than the same period a year ago, due to a “backlash” from the last-minute demand following a consumption tax hike in Japan, as well as due to lower home construction in Japan, resulted in decreased net sales.
Both sales and income were lower than previously forecast, but the company nevertheless returned to profitably.
Sharp also revised its full-year outlook. It’s now forecasting net sales upward to 2.9 trillion yen, while its projected net income of 30.0 billion yen remains unchanged.
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