Results for the Third Quarter Ended December 31, 2007
Net sales for the three months ended December 31, 2007, were 921.2 billion yen, up 12.3% compared to the same period last year, reflecting expanded sales of products such as LCD TVs and LCD panels for TVs.
Operating income was 51.9 billion yen, up 5.5%, and net income was 29.5 billion yen, up 3.8%, both compared to the same period last year.
Examining quarterly financial results since fiscal 2002 when Sharp first began announcing financial results by quarter, net sales and profits for this third quarter reached record high levels.
Operating income increased by more than 40% compared to the second quarter. Operating income for Consumer/Information Products increased more than 70%, mainly centered on Audio-Visual and Communication Equipment, and for Electronic Components, it went up more than 30%, mainly centered on LCDs.
The operating income ratio rose to 5.6% compared to 4.4% in the second quarter.
Depreciation and amortization for the third quarter was 68.0 billion yen, up 18.7% and an increase of 10.6 billion yen compared to the same period in the previous year. Of this increase, the amount attributable to changes in its calculation method was 4.3 billion yen. If calculated with the previous method, operating income for the third quarter would have been 56.3 billion yen, up 14.3%, a double-digit increase over the same period in the previous year. Also, the operating income ratio would have risen from 6.0% to 6.1% compared to the same period last year.
Total net sales for the nine months ended December 31, 2007, were 2,562.0 billion yen, up 12.1%. Reflecting a drop in profit in the first half, operating income was 131.0 billion yen, down 6.0%, and net income was 72.9 billion yen, down 2.9%, all over the same period in the preceding year.
Note also that the total increase in depreciation expenses attributable to changes in the method of calculating depreciation and amortization for the nine months ended December 31, 2007 was 10.2 billion yen. Using the previous method, operating income would have been 141.3 billion yen, up 1.3% compared to the same period last year.