Smaller Loss for Sharp’s Six Months, but Revenues Decline
Foxconn’s Sharp Corporation reported results for its six-month fiscal period that ended on September 30, 2016, with revenues down 28.1 percent to 919 billion yen, but operating profit of 79 million yen, both year-over-year. Sharp reported a loss of 45 billion yen for the six months, but it was considerably lower than the loss of 83 billion yen it had reported for the same six months a year ago.
Sharp says that its results were due mainly to lower sales of small and mid-size LCDs and camera modules to major customers, the shift to brand-licensing in the Americas, and a downturn in the Japanese smartphone market. It says its “structural reforms” have resulted in “significant improvements in earnings and a swing from an operating loss to operating income.”
Sharp also notes that net sales for the six months totaled 496.2 billion yen, an increase of 17.2 percent year-over-year. It says higher sales were mainly due to higher sales of camera modules and displays.
Sales for Sharp’s Business Solutions group for the six months totaled 159.6 billion yen, down 7.3 percent year-over year. However, for the three months of Sharp’s second quarter, a bright spot was that sales totaled 82.1 billion yen, up from the 77.5 billion yen reported for Sharp’s first quarter.
During the six months, sales of display devices (which made up the majority of Sharp sales) declined, and were down 36.0 percent. All of Sharp’s other business groups also saw sales declines.
For its fiscal year that will end on March 31, 2017, Sharp is forecasting sales will be down 18.8 percent, and a loss of 41 billion yen.
- 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