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Sharp fiscal Q3 profit falls YOY

Sharp Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to ¥24.48 per share, a decrease of 78.7% from ¥114.77 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥4.14 billion, a decline of 80.3% from ¥21.06 billion in the prior-year period.

The normalized profit margin declined to 0.5% from 2.6% in the year-earlier period.

Total revenue fell 6.4% on an annual basis to ¥762.77 billion from ¥815.27 billion, and total operating expenses fell on an annual basis to ¥740.73 billion from ¥767.61 billion.

Reported net income came to a loss of ¥11.90 billion, or a loss of ¥70.39 per share, compared to income of ¥22.05 billion, or ¥120.17 per share, in the prior-year period.

As of Feb. 10, US$1 was equivalent to ¥119.28.