Osaka, Japan - Sharp Electronics reported higher net income but lower net sales in its fiscal second quarter ended Sept. 30.
Net income was 7.4 billion yen, more than double from the prior year's 3.1 billion yen net income. Net sales were 690.3 million yen for the quarter compared to the prior year's 814.5 million yen for the quarter.
Sharp also reported that fiscal first half sales were 1.29 billion, down 17.5 percent compared with the same time last year. The net loss for the first half was 17.7 million yen compared with the prior year's 28.0 million yen.
In its consumer/information products business sales for the first half were down 11.5 percent from the same period last year, with sales of LCD TVs down but Blu-ray sales grew. Sales of information equipment were down 19.2 percent led by copiers and printers.
In electronic components LCD sales were down 33.6 percent from the same time last year despite a demand recovery. Price declines in large LCD TVs and a sluggish market for small and medium-sized LCDs were to blame, Sharp said.