Publications
Partners
Tokyo - Japan 's Sharp Corp said on Friday it expects to post a net loss in the April-June quarter due to the March 11 quake disaster, and a much reduced profit for the fiscal year as a whole.
The electronics maker projected a net profit of ¥6bn (S$91.5m) for the year to March 2012, down 69% from the previous year's ¥19.4bn. Sales are forecast at ¥3 trillion, up 0.9%.
The company predicted a net loss of ¥50bn in April-June 2011, against ¥10.7bn in profit in the same period in 2010.
"Results for the three months ending June 30, 2011 are expected to be severe, reflecting the suspended operations at large-size LCD (liquid crystal display) plants," Sharp said in a statement.
"However, the company is aiming to achieve the target for the whole year, by pushing ahead with business restructuring and reinforcing its business foundation, through such efforts as company-wide cost reductions."
When Sharp released its earnings report in late April, it held off on releasing its outlook for the fiscal year, saying the impact from the disaster on its business was too widespread to accurately assess at the time.
The electronics maker projected a net profit of ¥6bn (S$91.5m) for the year to March 2012, down 69% from the previous year's ¥19.4bn. Sales are forecast at ¥3 trillion, up 0.9%.
The company predicted a net loss of ¥50bn in April-June 2011, against ¥10.7bn in profit in the same period in 2010.
"Results for the three months ending June 30, 2011 are expected to be severe, reflecting the suspended operations at large-size LCD (liquid crystal display) plants," Sharp said in a statement.
"However, the company is aiming to achieve the target for the whole year, by pushing ahead with business restructuring and reinforcing its business foundation, through such efforts as company-wide cost reductions."
When Sharp released its earnings report in late April, it held off on releasing its outlook for the fiscal year, saying the impact from the disaster on its business was too widespread to accurately assess at the time.
