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Thursday, November 1, 2012

Engadget: Sharp expects to post $1.94 billion operating loss for the year, score a meager Q2 operating profit

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Engadget
Engadget
Sharp expects to post $1.94 billion operating loss for the year, score a meager Q2 operating profit
Nov 1st 2012, 07:16

Sharp expects to post $1.94 billion operating loss for the year, squeak by with a meager Q2 operating profit

Sharp hasn't quite laid out its Q2 2012 financials, but it has laid down some bittersweet projections. According to Reuters, the Japanese firm hopes to post an operating profit for the current term, but will take a $1.94 billion loss for the year as a whole. This prediction is a tad more dismal then its earlier forecast, which predicted a $1.25 billion loss for 2012. The TV maker also cut its predicted net loss from ¥240 billion to ¥450 billion ($5.6 billion). Sharp still is hoping its cuts, layoffs and mortgages weren't in vain -- and a short term profit for Q2 could be all it needs to vindicate the $4.6 billion loan it took out in September. Sharp also said it was penning in $1.1 billion for restructuring expenses in Q2, hopefully helping it stay on track for its 2014 profitability goal.

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Sharp expects to post $1.94 billion operating loss for the year, score a meager Q2 operating profit originally appeared on Engadget on Thu, 01 Nov 2012 03:16:00 EDT. Please see our terms for use of feeds.

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