BeQuiet Jubiläum Banner 970x90
Breaking News

Samsung Announces Galaxy Watch5 and Galaxy Watch5 Pro Samsung announces Galaxy Z Flip4, Galaxy Z Fold4 and Buds2 Pro Snapdragon 8+ Gen 1 Powers Samsung Galaxy Z Series Devices Globally G.SKILL Announces MD2 Mid-Tower PC Case Shuttle announces Xeon-compatible Mini-PC Barebone with 4x LAN and ECC RAM support

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • 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

BeQuiet Jubiläum Banner 300x600

 

Latest News

Samsung Announces Galaxy Watch5 and Galaxy Watch5 Pro
Consumer Electronics

Samsung Announces Galaxy Watch5 and Galaxy Watch5 Pro

Samsung announces Galaxy Z Flip4, Galaxy Z Fold4 and Buds2 Pro
Enterprise & IT

Samsung announces Galaxy Z Flip4, Galaxy Z Fold4 and Buds2 Pro

Snapdragon 8+ Gen 1 Powers Samsung Galaxy Z Series Devices Globally
Smartphones

Snapdragon 8+ Gen 1 Powers Samsung Galaxy Z Series Devices Globally

G.SKILL Announces MD2 Mid-Tower PC Case
Cooling Systems

G.SKILL Announces MD2 Mid-Tower PC Case

Shuttle announces Xeon-compatible Mini-PC Barebone with 4x LAN and ECC RAM support
Enterprise & IT

Shuttle announces Xeon-compatible Mini-PC Barebone with 4x LAN and ECC RAM support

Popular Reviews

CeBIT 2005

CeBIT 2005

CeBIT 2006

CeBIT 2006

Zidoo Z9S 4K Media Player review

Zidoo Z9S 4K Media Player review

LiteOn iHBS112 review

LiteOn iHBS112 review

Club3D HD3850

Club3D HD3850

External USB Slim Recorders Comparison

External USB Slim Recorders Comparison

Pioneer BDR-2207 (BDR-207M) BDXL burner review

Pioneer BDR-2207 (BDR-207M) BDXL burner review

Crucial P1 NVMe 1TB SSD review

Crucial P1 NVMe 1TB SSD review

Main menu

  • Home
  • News
  • Reviews
  • 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