Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Sharp doubles April-December net loss at $4.6 billion  Join our daily free Newsletter

MENAFN - AFP - 01/02/2013

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - AFP) Sharp said Friday that its loss in the nine months to December doubled to 4.6 billion as the embattled Japanese electronics giant struggles to repair its tattered balance sheet.But the company offered a glimmer of hope, as it eked out a small operating profit in the third quarter.For the nine-month period, Sharp said it lost 424.35 billion yen (4.6 billion), while keeping its full-year net loss estimate unchanged at 450 billion yen.During the same period, its operating loss reached 166.23 billion yen on sales of 1.78 trillion yen, down 6.4 percent.Sharp said that in the three months to December it posted a 2.6 billion yen operating profit, the income it makes from its core business.The maker of Aquos-brand electronics, like rivals Sony and Panasonic, has been hammered by credit rating downgrades and record losses, which saw the century-old firm warn about its own survival last year.In a bid to return to profitability, Sharp is undergoing a painful restructuring including thousands of job cuts and slashed wages for employees -- from the factory floor to the executive boardroom.It also said it would put up real estate as collateral for desperately needed bank loans, including its Osaka headquarters, as it pursued tie-ups with domestic and foreign firms.

 






  MENA News Headlines


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help