Sharp Reports Smaller Loss for Quarter, On Track for Profit for Full Year
The 1.79 billion yen loss is a sharp improvement versus Sharp’s loss of 17.98 billion yen for the same quarter a year ago. The firm expects some 30 billion yen in earnings for its current fiscal year.
Sharp’s quarterly sales were 619.7 billion yen, up 1.9 percent versus the same quarter a year ago, due to increased demand for LCD televisions rose.
Sharp, like many Japanese companies has been profiting from the lower value of the yen; it’s also experiencing higher sales, and had officially swung back to profit in its last fiscal year.
Net sales for the quarter were up 1.9 percent, while operating income was up 55 percent.
In the office-imaging business, sales for Sharp’s Business Solutions group were up 2.1 percent, due, Sharp says, to “robust sales of color MFPs in overseas markets.”