Sharp posts 4th straight quarterly profit, recovery on track

LG Innotek Co

27/10/2017 07:11

TOKYO, Oct 27 (Reuters) - Japan's Sharp Corp  6753.T  
reported its fourth consecutive quarter of net profit on Friday, 
as it gears up to rebuild lost presence in the global 
electronics market under Taiwanese owner Foxconn. 
    Sharp, a supplier to Apple Inc  AAPL.O , posted net profit 
of 20.2 billion yen ($177.04 million) for the three months 
through September, reversing a year-earlier loss of 17.9 billion 
yen. 
    The result compared with the 14.62 billion yen average of 
five analyst estimates in a Thomson Reuters poll. 
    Following the strong quarterly results, Sharp lifted its 
profit forecast for the year through March to 69 billion yen 
from an initially estimated 59 billion yen. If achieved, that 
would be its first annual profit in four years. It posted a loss 
of 24.9 billion yen a year prior.  
 
($1 = 114.1000 yen) 
 
 (Reporting by Makiko Yamazaki) 
 ((Makiko.Yamazaki@thomsonreuters.com; 81-3-6441-1039;)) 
 
Keywords: SHARP RESULTS/