Sharp Corp rebounded to a third-quarter operating profit on Friday,
improving the bailed-out consumer electroncs maker's chances of
convincing lenders and shareholders that it is a viable company.
the three months to December 31, Sharp posted an operating profit of 2.6
billion yen, compared with a loss of 24.4 billion yen a year ago. The
result was ahead of an average 230 million yen loss estimated by seven
analysts surveyed by Thomson Reuters I/B/E/S.
The maker of Aquos
TVs stuck with its forecast for a full-year operating loss of 155
billion yen compared with an average 152 billion yen loss expected by 19
Sharp in October secured a $4.4 billion bailout from
banks but had to mortgage its offices and factories in Japan to secure
the loans. It also pledged to trim its workforce by 10,000 people and
sell off assets.
© Thomson Reuters 2013