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Sharp Reports Fiscal Year Results, 2004 Forecast
Apr 25, 2003
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Sharp Corp. today posted strong profit rises for the year ended March 31, 2003. The Japanese consumer electronics maker posted a group net profit of Y32.6 billion (U.S.$269.8 million), a 188-percent jump from the year earlier. Group operating profit rose 35 percent to Y99.5 billion ($823.4 million), while group revenue grew 11 percent to Y2.0 trillion ($16.5 billion). The company attributed its big profit gains to good sales of camera-equipped mobile phones, liquid crystal display (LCD) televisions, and optical semiconductors and LCD devices. Sharp said it will seek further growth in the fiscal year through March 2004 by expanding its operations related to these core products and continuing with its cost-cutting efforts. The company forecasts a group operating profit of Y110 billion, a net profit of Y50 billion, and revenue of Y2.15 trillion this fiscal year. The forecasts assume the dollar will average Y118 ($0.98) this fiscal year, compared with an average rate of Y120.95 ($1.00) last fiscal year. (Dow Jones)

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