Sharp Reports Strong Mobile, LCD Sales Feb 4, 2003

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Sharp Corporation reported on Tuesday strong earnings for the October-December quarter, as brisk shipments of mobile phones and components to Vodafone Group PLC and solid sales of Aquos LCD color TVs reportedly boosted its bottom line.

Sharp, which last month said it will accelerate the construction of its LCD plants in Japan on the back of strong demand for its products, reported a group net profit of 13.97 billion yen (U.S. $118.4 million).

Tuesday marked the first time Sharp has reported quarterly earnings for the October-December period. Compared with monthly figures for the corresponding period a year earlier, group net profit in the quarter rose 209 percent.

On an operating basis, the company posted a 29.2 billion yen profit, up 94 percent. Group sales rose 23 percent to 526.12 billion yen.

Despite the robust growth in sales and profits, Sharp left its forecasts for the fiscal year through March 31 unchanged, predicting a 3.3-percent rise in group net profit to 37 billion yen, a 22.3-percent rise in operating profit to 90 billion yen, and a 10.9-percent rise in sales to 2 trillion yen. (Dow Jones)

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