Big losses expects Sharp for the period of April – June and foresees a reduction of the annual net income by 69%, mainly due to losses from the temporary suspension of production panel LCD. Specifically, the Japanese electronics company expects net loss of 50 billion yen for the first quarter of fiscal year, compared to profits of 10.69 billion yen a year earlier. Operating profit is expected to fall to 2 billion yen from 22.52 billion yen the same period was of last year. For the full fiscal year ending March 2012, the company expects net profit of 6 billion yen, significantly reduced compared with 19.40 billion yen the previous year.
This news post was written by Chris on June 3, 2011