Sharp logs 2.5 bil. yen operating profit in 3rd qtr.
(Japan Economic Newswire Via Acquire Media NewsEdge) OSAKA, Feb. 1 -- (Kyodo) _ Struggling Sharp Corp. has logged an operating profit of around 2.5 billion yen for the October-December period, due to a weaker yen and robust sales of smartphones equipped with its advanced liquid crystal panels, people familiar with the matter said Friday.
It is the first time in five quarters that the electronics maker has made operating profit. The company will officially announce the earnings results Friday afternoon.
Sharp has been urged by its main creditor banks to return to the black on an operating basis for the second half of the current business year through March 31 as a condition for continued financial support.
Sharp had initially been expected to post around 4 billion to 5 billion yen in operating profit for the October-December period, but the profit narrowed due to material costs for the advanced "Igzo" power-saving LCDs as well as advertisement expenses, the sources said.
Adding to growing sales of smartphones, strong sales of white goods also contributed to Sharp's earnings, they said.
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