Sharp's struggles continue as net loss doubles


Posted at Feb 01 2013 03:37 PM | Updated as of Feb 01 2013 11:37 PM

TOKYO - Struggling Sharp Corp. said Friday its group net loss doubled to 424.35 billion yen in the April to December period from a year earlier, due mainly to its flagging television business and hefty restructuring costs.

Its group operating balance fell into the red with a loss of 166.23 billion yen against a profit of 9.14 billion yen a year earlier, on sales of 1.78 trillion yen, down 6.4 percent.

For the three month period to December, however, the company said it posted a group operating profit of 2.6 billion yen, returning to the black for the first time in five quarters, due partly to the improvement of its liquid crystal display business.

The Osaka-based electronics maker left unchanged its earnings projection for the full business year ending March, expecting its largest-ever group net loss of 450 billion yen. It projects to post a group operating loss of 155 billion yen on sales of 2.46 trillion yen.