Sharp Reports Latest Financial Results

Sharp 8K TV

Sharp Corporation of Japan today reported its latest financial results for both the nine months that ended on December 31, 2018, and its fiscal third quarter.

The company, which Foxconn purchased in 2016, stated that despite the U.S.-China trade war and other economic disruptions, it “secured bottom-line profit…with its profit margin outperforming” the same period a year earlier. It stated that its cumulative profit margin was “a record high for the company.”

Net sales for the nine months totaled  ¥642.5 billion, a decline of 10.0 percent versus the same period a year earlier, and operating profit totaled  ¥21.2 billion, a decline of 28.6 percent versus the same period a year earlier. But profits totaled ¥22.1 billion yen, up 7.3 percent versus the same period a year earlier.

For the nine-month period, Sharp’s Smart Business Solutions segment posted sales of  ¥237.7 billion, up 2.6 percent versus the same period a year earlier. Operating profit for the group was  ¥14.9 billion, up 8.1 percent.

Third-Quarter “Record High”

For the three months that ended on December 31, 2018, Sharp says profits reached a “record high.”

Net sales and operating profit were down 3.2 and 3.0 percent year-over-year, respectively for the quarter, but profit was up 13.9 percent to  ¥63.0 billion.

Forecast

For its fiscal year that will end on March 31, 2019, Sharp lowered its forecast for net sales down 7.1 percent to ¥2.5 trillion, due to the ongoing U.S.-China tariff conflict. It also lowered its operating profit outlook down 4.5 percent to ¥107 billion, but its profit outlook of ¥90 billion remained the same. The ¥90 billion profit outlook is up 28.2 percent versus Sharp’s previous fiscal year.

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