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Sharp Posts 1st Half Profit, Sales Gains

10/28/2010 09:51:42 AM Eastern
Osaka, Japan - Sharp reported higher net sales and net income for the first half of its fiscal year ended Sept. 30.

Though not breaking out its fiscal second-quarter results separately, Sharp reported net sales increased in the first half by 16.7 percent to 1.5 trillion yen.

Net income was 14.3 billion yen compared with last fiscal year's first half loss of 17.7 billion yen.

By product group first-half sales for the audio/visual and communications group was 684.1 billion yen, an increase of 8.6 percent. The group posted operating income of 19.5 billion yen compared with last year's first half loss of 6.1 billion yen.

Sharp said that sales in its audio/visual and communications group  increased due to strong LCD TV and Blu-ray recorder sales.

In key product categories LCD color TV sales were 365.4 billion yen, an increase of 19.4 percent year on year. Unit sales for the half were up 43 percent over last year.

Sharp said that sales in the Americas for the first half were 215.2 billion yen, an increase of 23.2 percent.

Exchange rates are still a concern to Sharp, as well as for other Japanese companies with the yen appreciating from 94.5 yen to the U.S. dollar in the first half of last year to 87.96 yen to the U.S. dollar during the first half of this fiscal year.
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