Sharp trims loss, still sees red ink for full year

Published on NewsOK Modified: February 1, 2013 at 12:31 am •  Published: February 1, 2013

TOKYO (AP) — Japanese electronics maker Sharp Corp. has reduced its quarterly losses but its outlook remains challenging.

The Osaka-based maker of Aquos TVs left its forecast for the full year ending March unchanged Friday at a 450 billion yen loss ($5 billion) as its flat-panel business for TVs and mobile devices gets hammered by plunging prices and intense competition.

Sharp reported a 36.7 billion yen ($399 million) net loss for the October-December period, a smaller flow of red ink than its 173.6 billion yen loss a year earlier.

It posted an operating profit for period, the first time in five quarters. The operating result excludes one-time gains and losses to provide a clearer picture of financial performance

Quarterly sales rose 15 percent to 678.2 billion yen ($7.4 billion).