SHARP CORP NET PROFIT DOWN 6.9%

[Anonymous]

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.

[Author]

October 29, 2007 at 12:21 PM