Sharp sees first profit in two years

Stefan Mileschin · 4th February 2017, 14:57

Sharp posted its first quarterly net profit in over two years as the Japanese LCD maker pressed ahead with cost-cutting measures under its new Foxconn owners.

Sharp raised its operating profit forecast to $329.85 million for the year ending in March from an earlier forecast of $227 million.

Net profit was $37,136,400 for October-December, compared with a $218,348,000 loss in the same period a year earlier. It was the first profit on a net basis since July-September 2014.

The return to profit comes as Sharp uses Foxconn’s mighty parts procurement power, reviewed the lineup of products and implemented various measures to cut fixed costs.

http://www.techeye.net/business/shar...t-in-two-years

4th February 2017, 14:57	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 153,514	Sharp sees first profit in two years Sharp posted its first quarterly net profit in over two years as the Japanese LCD maker pressed ahead with cost-cutting measures under its new Foxconn owners. Sharp raised its operating profit forecast to $329.85 million for the year ending in March from an earlier forecast of $227 million. Net profit was $37,136,400 for October-December, compared with a $218,348,000 loss in the same period a year earlier. It was the first profit on a net basis since July-September 2014. The return to profit comes as Sharp uses Foxconn’s mighty parts procurement power, reviewed the lineup of products and implemented various measures to cut fixed costs. http://www.techeye.net/business/shar...t-in-two-years

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