Challenging First Half for Sharp, But Improving Second Quarter

On November 30th, Foxconn’s Sharp Corporation posted financial results for its second quarter and the first six months (“first half”) of its fiscal year, with both periods ending on September 30, 2019.

Second Quarter

For its second quarter, Sharp stated that despite a challenging business environment, it recorded “steady profits,” and that its performance is recovering from a low in the fourth quarter of its 2018 fiscal year.

According to the firm, every profit measure for the second quarter was up, in particular operating profit, outperforming Sharp’s fiscal performance year-over-year.

Net sales for the second quarter were ¥605.6 billion, up 1.8 percent year-over-year; operating profit was ¥22.3 billion, up 0.6 percent year-over-year; and profits were ¥14.8 billion, down 31.6 percent year-over-year, but up versus Sharp’s last two fiscal quarters.

First Half

For its fiscal year’s first half – the six months that ended on September 30, 2019 – Sharp reported net sales of  ¥1120.6 billion, down 0.7 percent year-over-year; operating profit of ¥36.9 billion, down 21.4 percent year-over-year; and profits of ¥27.3 billion, down 33.1 percent year-over-year.

Forecast

For its fiscal year that will end in March 2020, Sharp is forecasting net sales of ¥2,650.0 billion, up 10.4 percent versus the previous fiscal year; operating profit of ¥100.0 billion, up 18.8 percent versus the previous fiscal year; and profits of ¥80.0 billion, up 7.8 percent versus the previous fiscal year.

To see a detailed presentation, including trend charts, visit Sharp here.

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