Sharp Reports Record Third Quarter Operating Profit Of $28.5 Million With Net Loss Of $398 Million Onboard

Posted on Feb 1 2013 - 3:55pm by Editorial Staff
Sharp Corporation


Sharp today reported the record third quarter financial results with posting an operating profit of 2.6 billion yen (about $28.5 million) in the quarter, but although recorded a net loss of 36.7 billion yen (about $398 million) for the quarter. Thanks to sales of home appliances and mobile devices, which both together results in boosted the company’s revenue, reports Reuters (via Engadget).

“The results gave a sense of relief to investors as it was able to keep promises with its banks to turn around its business,” said Makoto Kikuchi, chief executive of Myojo Asset Management. “The next focus is whether the company can be profitable on a net basis for the next fiscal year,” Kikuchi added, warning that it faced potential restructuring costs.

(Image Source: Sharp logoFeatured Image)

About the Author

Editorial Staff at I2Mag is a team of subject experts.