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Sharp: LCD Drove Double-Digit Increases

Osaka, Japan, — Sharp Electronics reported double-digit gains in net sales and net income for its first fiscal quarter, ended June 30, based in part on its LCD color TVs and LCD component sales.

Consolidated net sales for the quarter were up 12.6 percent to $5.95 billion vs. the previous year’s fiscal first quarter, and net income was up 23.1 percent vs. the same period last year, to $204.2 million.

Sharp said the Japanese economy continued to recover, and the economies in the United States, Asia and Europe also reported growth. The company said it “strove to enhance such unique products as LCD color TVs” during the quarter, which resulted in higher sales.

Sales in its audio/visual and communication equipment division were $2.54 billion, up 24.1 percent vs. the same quarter last year, due to sales of larger-sized LCD TVs and mobile phone sales. In fact, sales of its LCD components were $842.4 million, up 10.2 percent over the fiscal first quarter of last year.

Home appliance sales were $495 million, up only 0.2 percent vs. the first quarter of last year due to a sales decline in air conditioners, while sales of Information Equipment were $842.4 million, down 5 percent vs. last year due to declining PC sales.