Some good news from Japan, Stan.
Sharp Q3 net lifted by photo-phones, flat-panel TVs
Tuesday February 4, 1:07 am ET
biz.yahoo.com
TOKYO, Feb 4 (Reuters) - Sharp Corp (Tokyo:6753.T - News), Japan's largest maker of liquid crystal displays (LCDs), posted a rise in quarterly profit on Tuesday powered by brisk demand for camera-equipped mobile phones and flat-panel televisions.
Sharp, a pioneer in mobile phones that take photos, which have taken the Japanese market by storm, has seen its share of the domestic cellphone market nearly double over the past year, moving into the number-three position.
Consolidated net profit rose 209.0 percent from a year earlier to 13.97 billion yen ($116.1 million), or 12.72 yen per share, in the third fiscal quarter, ended December 31. Sales rose 23.0 percent to 526.12 billion yen.
Sharp's earnings estimates for the full year to March 31, last revised in October, were left unchanged. It forecast a net profit of 37 billion yen, more than triple the year-earlier profit of 11.31 billion yen.
After the announcement, shares in Sharp ended at 1,216 yen, down 0.16 percent. In the past quarter, Sharp has shed about four percent of its value while the Tokyo Stock Exchange's electrical machinery index (^IELEC.T - News) has been little changed. ($1=120.30 Yen) |
