First Quarterly Profit for Sharp Japan in Two Years, Strong Sales of Color MFPs

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Sharp solar panel.

Sharp Corporation of Japan reported its first quarterly net profit in two years, beating estimates, as the weaker Japanese yen and increased demand for solar cells and display panels boosted results.

Sharp reported a net profit of 13.6 billion yen ($139 million) in its fiscal second quarter, its first profit since the three months ended September 2011. This beat an expected net loss of 9 billion yen, according to Thomson Reuters’ Starmine SmartEstimate, the average of the most accurate analysts’ estimates. A year earlier, Sharp reported a net loss of 249.2 billion yen.

Sharp left is its net profit forecast for its fiscal year through March 2014 unchanged at 5 billion yen. For the first six months of the year, Sharp’s net loss narrowed to 4.3 billion yen from 387.6 billion yen a year earlier.

For its fiscal half year, sales for its Business Solutions division were 158.4 billion yen, an increase of 14.1 percent compared to the same period a year ago. Sharp attributes the gains to robust sales of color MFPs in Japan and overseas, as well as to robust sales of information displays in the United States.

For more information, visit Sharp here.

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