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Sharp CE Segment Sales Increase 16%

4/29/2005 09:37:00 AM Eastern

Osaka, Japan — Sales in the audio-visual and communication segment at Sharp jumped 16.1 percent in the company’s fiscal year, hitting $9.2 billion, up from $7.9 billion in the year-ago period. Sales of LCD color TVs, mainly for large-size models, and 3G mobile phones, increased during the period year-on-year, contributing to the overall sales increase.

Operating income for the segment climbed 16.2 percent to $305.6 million.

Despite negative market conditions such as intensifying competition and falling prices, Sharp’s home appliance segment saw a 1.7 percent increase in sales during the 12 months, ended March 31, reaching $2 billion, compared with a year-earlier $1.97 billion. Operating income for the segment more than tripled to $19.8 million.

In the company’s information equipment segment, solid sales were recorded for copier/printers, mainly digital color types, which more than offset sales declines of PCs. This environment pushed sales at the segment up 6 percent for the year to $3.9 billion, from $3.7 billion in the same period in 2004. Operating income for the segment moved up 18.3 percent to $213.5 million.

These three Sharp business segments make up the company’s consumer/information products division, which enjoyed an 11.3 percent increase in 12-month sales, climbing to $15.1 billion, from $13.6 billion the previous year. Operating income for the division increased to $538.9 million for the year, up 20.2 percent from a year-ago $448.2 million.

Sales to the Americas in the 12 months rose to $3.2 billion from $2.7 billion, while operating income in the Americas for the year about doubled, hitting $24 million, compared with a year-on-year $12.6 million.

Buoyed by increases in exports, and by focusing on highly distinctive products and devices, Sharp drove up 12-month consolidated sales by 12.5 percent, coming in at $24 billion, compared with $21.3 billion in the previous year.

Both consolidated operating and net income increased sharply during the year, with operating income jumping 24.1 percent to $1.4 billion, up from $1.1 billion, and net income rising 26.6 percent to $726 million from $573.6 million.

The company did not break out sales and earnings figures for the fourth quarter.

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