Higher Total Sales for Sharp’s First Quarter, but Declining Copier/MFP Sales
Foxconn’s Sharp Corporation of Japan reported results for its first fiscal quarter that ended on June 30, 2017, with net sales rising 19.6 percent year-over-year to ¥506.4 billion ($4.5 billion U.S.), but sales of copier/MFPs declining, both versus the first quarter of the previous fiscal year .
Sharp says it enjoyed double-digit growth due to sales, cost reductions, and model-mix improvements, which resulted in improved operating profits that totaled ¥17.1 billion ($154 million)) compared to an operating loss for first quarter of its previous fiscal year.
However, sales for Sharp’s Smart Business Solutions segment declined by 6.9 percent to ¥72.1 billion ($650 million U.S.) versus the first quarter for the previous fiscal year. This was despite a good sales performance by signage-related products in Sharp’s visual-solutions segment. However Sharp says there was “sluggishness” in the MFP market.
Sharp did not change its fiscal 2017 earnings forecasts that it announced on May 26, 2017.
- May 2017: Sales Down for Sharp’s Year, but Improvement in Operating Income, Second Half\
- February 2017: Sharp Posts Profit for First Time in Two Years, but Copier/MFP Profit, Sales Decline
- November 2016: Smaller Loss for Sharp’s Six Months, but Revenues Decline
- October 2016: Sharp’s Albregts Promoted to President and CEO of Sharp Electronics
- August 2016: Sharp Moving U.S. Headquarters from Mahwah to Smaller Building in Montvale, NJ
- August 2016: Foxconn’s Tai Jeng Wu is New President and CEO of Sharp Corporation
- August 2016: Sharp Posts Loss for Quarter, Business Solutions Group’s Sales Down 3.8 Percent
- July 2016: Nakayama is New President of Sharp Business Solutions Company
- May 2016: Sales, Profits Down for Sharp’s Fiscal Year, but Business Solutions Group’s Sales Up
- March 2016: Foxconn to Invest Billions of Yen in Sharp’s Business Solutions Group
- March 2016: Foxconn Takes Controlling Interest in Sharp in Reduced Buyout
- February 2016: Loss for Sharp’s Nine Months; Business Solutions’ Sales Steady