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Sharp’s Maintains Profit Upswing

Sharp’s recovery continues as the company reported strong third quarter earnings on the strength of LCD sales.

Sharp’s net profit of $415 million marked its fourth straight profitable quarter since being acquired by Taiwan’s Foxconn for $3.7 billion last summer. Sales were up 21 percent year over year.

The company raised its profit forecast for the fiscal year through March and is now expecting its first annual profit in four years.

“Sales of small- and mid-sized LCD panels and of LCD televisions surpassed our previous forecasts, thus operating, current, and net profits all surpassed the previous forecasts significantly,” Sharp said in a statement.