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Sharp swings to loss in fiscal Q4

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Sharp swings to loss in fiscal Q4

Sharp Corp. said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of ¥427.35 per share, compared with ¥55.91 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥72.25 billion, compared with income of ¥9.45 billion in the year-earlier period.

The normalized profit margin fell to negative 10.4% from 1.2% in the year-earlier period.

Total revenue fell 9.6% on an annual basis to ¥695.82 billion from ¥769.90 billion, and total operating expenses grew 7.0% from the prior-year period to ¥795.14 billion from ¥742.81 billion.

Reported net income came to a loss of ¥215.19 billion, or a loss of ¥1,272.74 per share, compared to a loss of ¥6.17 billion, or a loss of ¥36.47 per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of ¥369.24 per share, compared with ¥217.01 per share in the prior year.

Normalized net income was a loss of ¥62.43 billion, compared with income of ¥31.87 billion in the prior year.

Full-year total revenue fell from the prior-year period to ¥2.786 trillion from ¥2.927 trillion, and total operating expenses totaled ¥2.834 trillion, compared with ¥2.819 trillion in the year-earlier period.

The company said reported net income came to a loss of ¥222.35 billion, or a loss of ¥1,315.08 per share, in the full year, compared with income of ¥11.56 billion, or ¥78.70 per share, the prior year.

As of June 24, US$1 was equivalent to ¥124.31.