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May 27, 1997updated 05 Sep 2016 12:28pm

SHARP REPORTS NET INCOME FOR YEAR UP 7%

By CBR Staff Writer

Sharp Corp reported group net income for the year ended March up 7% at $421.7m, according to the Nikkei Daily News. The strong earnings are attributed to brisk sales of LCDs and information equipment, the company says. Consolidated sales increased 9% over last year as domestic sales rose 7% and overseas sales grew 10%. Total sales figures weren’t reported. Sales of thin film transistor LCDs for use in notebook personal computers surged, offsetting a decline in semiconductor sales. Camcorders and personal handy-phone systems also increased substantially. For the current fiscal year, Sharp expects consolidated net profit to rise 3% to $434.8m on a 7% increase in group sales.

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