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Sharp trims loss, still sees red ink for full year

Fri, 02/01/2013 - 1:30am
The Associated Press

Japanese electronics maker Sharp Corp. has reduced its quarterly losses but its outlook remains challenging.

The Osaka-based maker of Aquos TVs left its forecast for the full year ending March unchanged Friday at a 450 billion yen loss ($5 billion) as its flat-panel business for TVs and mobile devices gets hammered by plunging prices and intense competition.

Sharp reported a 36.7 billion yen ($399 million) net loss for the October-December period, a smaller flow of red ink than its 173.6 billion yen loss a year earlier.

It posted an operating profit for period, the first time in five quarters. The operating result excludes one-time gains and losses to provide a clearer picture of financial performance

Quarterly sales rose 15 percent to 678.2 billion yen ($7.4 billion).

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