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Sharp Reports Higher Sales, Operating Profit

Osaka, Japan — Sharp Electronics reported higher sales and posted an operating profit and reduced net loss in its fiscal first quarter, ended June 30. 8/01/2013 05:25:00 AM Eastern

Osaka, Japan — Sharp Electronics reported higher sales and posted an operating profit and reduced net loss in its fiscal first quarter, ended June 30.

Sales were up 32.6 percent to 607.9 billion yen. Operating income was 3 billion yen, compared with the prior year’s operating loss of 94.1 billion yen, and the net loss was 17.9 billion yen, down from the 138.4 billion yen loss in the prior year.

Sharp said that the improved exchange rate for the yen helped it in the quarter, as well as sales of smartphones, LCD TVs and high-performance camera modules for mobile devices.

In its digital information equipment segment, sales were up 18.5 percent to 158.9 billion yen compared with the prior year. While “sales in the Americas and Europe were sluggish” for LCD TVs, sales were improved in Japan, China and emerging countries,” the company noted.