Breaking News

be quiet! introduces new premium products at Computex 2023 Cooler Master Announces MasterHUB and MasterControl G.SKILL Showcases Extreme DDR5 Memory at Computex 2023 Greenliant will showcase SSDs and Memory Cards at embedded world China PlayStation Plus Monthly Games for June: NBA 2K23, Jurassic World Evolution 2 and Trek to Yomi

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map

Search form

Sharp Raises Forecast After Reporting Profit For First Quarter

Sharp Raises Forecast After Reporting Profit For First Quarter

Enterprise & IT Feb 3,2017 0

Sharp has lifted its full-year profit guidance after posting its first quarterly net profit in over two years as the Japanese liquid crystal display maker pressed ahead with cost-cutting measures under the ownership of Taiwan's Foxconn.

The net loss will reach 37.2 billion yen ($329 million) in the year ending March 31, the Osaka-based company reported on Friday. That's narrower than the company's previous forecast for a 41.8 billion yen shortfall.

"Except for the solar business, all of our operations are profitable," Executive Vice President Katsuaki Nomura said in a briefing in Tokyo on Friday. "Decision making has sped up under new management and so has the pace of balance sheet improvement."

Sharp's shares have more than tripled in value since August, when Taiwan's Foxconn Technology Group bought control of the struggling Japanese electronics maker. Tai Jeng Wu, who took over as Sharp's president in August, is making headway in overhauling the liquid-crystal display business, which reported an 11 billion yen profit in the latest quarter. He will next need to address losses in Sharp's solar-panel operations and reverse a decline in consumer electronics sales.

The company cited restructuring efforts for the revised outlook, saying cost reductions added 62.2 billion yen to the bottom line in third quarter.

Net income was 4.2 billion yen in the three months ended Dec. 31. Operating income was 18.8 billion yen in the quarter, compared with the prediction for 13.2 billion yen.

Sharp also benefited as production cutbacks by Korean rivals in LCD panels for television sets fueled an industry-wide shortage of panels and pushed up market prices.

Tags: Sharp
Previous Post
Acer's New UltraWide QHD FreeSync Monitor Launches In The U.S.
Next Post
Samsung Looks At Japanese Murata for S8 Batteries

Related Posts

  • LEICA CAMERA AG AND SHARP CORPORATION ANNOUNCE TECHNOLOGY PARTNERSHIP IN THE SMARTPHONE PHOTOGRAPHY SEGMENT FOR THE JAPANESE MARKET

  • Sharp Cuts Full-year Profit Forecast as Virus Impacts Demand

  • Sharp Unveils New Flagship AQUOS CX1 8K series of TVs

  • NEC and Sharp to Combine Their Display Solution Businesses

  • Sharp Sues Tesla Over Violation of Communication Tech Patents

  • Sharp Files Patent Infringement Lawsuit Against Vizio

  • Sharp Filed Patent Infringement Damage Lawsuits against OPPO

  • New Sharp AQUOS R5G Smartphone Supports 8K Video

Latest News

be quiet! introduces new premium products at Computex 2023
PC components

be quiet! introduces new premium products at Computex 2023

Cooler Master Announces MasterHUB and MasterControl
PC components

Cooler Master Announces MasterHUB and MasterControl

G.SKILL Showcases Extreme DDR5 Memory at Computex 2023
PC components

G.SKILL Showcases Extreme DDR5 Memory at Computex 2023

Greenliant will showcase SSDs and Memory Cards at embedded world China
Enterprise & IT

Greenliant will showcase SSDs and Memory Cards at embedded world China

PlayStation Plus Monthly Games for June: NBA 2K23, Jurassic World Evolution 2 and Trek to Yomi
Gaming

PlayStation Plus Monthly Games for June: NBA 2K23, Jurassic World Evolution 2 and Trek to Yomi

Popular Reviews

Pioneer BDR-S13U-X Blu-Ray Recorder

Pioneer BDR-S13U-X Blu-Ray Recorder

Pioneer BDR-X13U-S

Pioneer BDR-X13U-S

EnGenius ECW230S AP

EnGenius ECW230S AP

Pioneer BDR-XD08UMB-S External Blu-Ray Recorder

Pioneer BDR-XD08UMB-S External Blu-Ray Recorder

be quiet! Pure Rock 2 FX

be quiet! Pure Rock 2 FX

be quiet! Pure Loop 2 FX (280mm)

be quiet! Pure Loop 2 FX (280mm)

Creative Zen Hybrid

Creative Zen Hybrid

be quiet! Silent Wings Pro 4

be quiet! Silent Wings Pro 4

Main menu

  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map
  • About
  • Privacy
  • Contact Us
  • Promotional Opportunities @ CdrInfo.com
  • Advertise on out site
  • Submit your News to our site
  • RSS Feed