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Sharp's 1st-Half Profit Surges
Oct 29, 2002
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Sharp Corp., a Japanese maker of liquid-crystal displays, said fiscal first-half profit rose by almost half on higher sales of flat-screen televisions, cellular phones, and color monitors for PCs. The Osaka-based company's group net income rose to 22.9
billion yen (U.S. $185 million), or 20.69 yen a share, in the 6 months ended Sept. 30, from 16.3 billion yen, or 14.5 yen, in the
year-ago period. Sales rose 7.8 percent to 971.8 billion yen.

Sharp is increasing earnings with sales of flat panels for
handsets and audio-visual equipment even as demand slows for
PCs, the biggest users of LCDs. Consumers purchased LCD televisions this year to watch World Cup soccer games with
sharper images. The company was reportedly the first in Japan to offer cellular phones with built-in cameras. For the full year, Sharp reiterated its April forecast calling for net income of 37 billion yen on sales of 2 trillion yen. For the previous year, Sharp posted net income of 11.3 billion yen on sales of 1.80 trillion yen. (Bloomberg News)

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