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Sharp Reports Strong Q3 Earnings
Feb 1, 2005
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Appliance and consumer electronics maker Sharp Corp. reported an 18 percent gain in profit for the third fiscal quarter due to strong demand for liquid crystal display (LCD) television sets and mobile phones with digital cameras.

The Japanese-based company reported a group net profit of 20.9 billion yen (approx. U.S. $202 million) for the 3-month period ended Dec. 31, 2004 compared to 17.8 billion yen (approx. $171 million) in 2003. Sales increased 12 percent to 650.6 billion yen (approx. $6.3 billion) from 580.46 billion yen (approx. $5.5 billion).

Sharp's sales were up 23 percent in the third quarter in its audio visual and communication equipment sector, which includes LCD color TVs and camera-equipped cell phones, the company said. Sales of solar cell batteries, home appliances, and digital printers were also up from last year.

For the 9 months through Dec. 31, 2005, Sharp earned 60.2 billion yen (approx. $581 million) net profit on 1.91 trillion yen (approx. $18.4 billion) in sales, up from 41.9 billion yen (approx. $403 million) profit on 1.67 trillion yen (approx. $16.1 billion) sales from the same period in 2003.

Sharp reiterated its forecast for the fiscal year ending March 31, 2005 of a 24-percent increase in net profit to 75 billion yen (approx. $724 million), which would be a record for the company. The company is forecasting a 12-percent increase in sales to 2.53 trillion yen (approx. $24 billion), another potential record. (AP)

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