Sharp Corp. reported Friday a group net profit of ¥14.48 billion in the April to June period, a reversal from a ¥27.45 billion loss a year earlier as sales in TVs and liquid crystal displays used in mobile devices recovered.
Operating profit in the first quarter of fiscal 2017 stood at ¥17.11 billion, compared with a ¥2.52 billion loss in the same quarter in the previous year. Sales rose 19.6 percent to ¥506.43 billion.
Sharp kept unchanged its full-year projections for a net profit of ¥59 billion, which would be the first black ink on its bottom line since fiscal 2013. The company posted a net profit for the third straight quarter in the three months ended in June.
It also maintained projections for an operating profit of ¥90 billion and sales of ¥2.51 trillion.