Sharp Corp. said Tuesday it logged a group net profit of ¥4.40 billion in the year ended in March, a turnaround from a loss of ¥125.82 billion a year earlier, due to cost-cutting efforts and an expansion of its business.
Consolidated sales fell 3.2 percent to ¥2.76 trillion due partly to a decline in sales of liquid crystal display televisions overseas as well as sharp price falls in large-size LCDs for TVs and sluggish sales of medium- and small-size LCD products.
Sharp said it booked a group operating profit of ¥51.90 billion compared with a loss of ¥55.48 billion in the previous year.
For the current fiscal year ending next March, Sharp is forecasting a net profit of ¥50 billion and an operating profit of ¥120 billion on sales of ¥3.10 trillion.