SHARP CORP NET PROFIT DOWN 6.9%

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SHARP CORP NET PROFIT DOWN 6.9%

 user 2007-10-29 at 12:21:00 pm Views: 51
  • #18963

    Sharp Corp said group net profit fell 6.9%
    OCT 07 in its fiscal first half
    as it booked accounting charges and as costs rose from starting
    overseas plants. The Osaka-based consumer-electronics maker maintained
    its full-year targets.Sharp, meanwhile, posted group net profit of
    43.31 billion yen for the first half ended September, down from 46.54
    billion yen a year earlier. It kept its targets for the current year
    ending March 31 at 105 billion yen in group net profit on 3.4 trillion
    yen in revenue.Sharp said the decline was mainly from booking
    depreciation of assets under revised tax laws, costs associated with
    starting overseas television-assembly factories, and lower profit in
    its solar-cell business because of soaring costs of silicon. It said
    that these were one-time factors and that it is taking steps to
    increase silicon production.Sharp said the accounting charges accounted
    for about a 5.9 billion-yen drop in its operating profit during the
    period. The company, known for its Aquos brand of
    liquid-crystal-display television sets, also hinted that consumers are
    buying fewer large-screen TV sets than it had anticipated. Sharp bases
    its financial results on Japanese accounting standards.