Results for the Third Quarter Ended December 31, 2009
|The following is the description of Sharp's financial results centering on the third quarter of fiscal 2009 (October to December 2009). With regard to the nine-month results (April to December 2009), please refer to Sharp's financial release.
Net sales for the third quarter were 735.3 billion yen, up 6.5% compared to the previous quarter (July to September 2009).
The severe business environment continued during 2009. However, net sales, which hit bottom in the fourth quarter of fiscal 2008 (January to March 2009), continued to increase for the third consecutive quarter, recovering to the level of the same period in the previous fiscal year (October to December 2008). Sales of health and environment-related products, such as home appliances equipped with Plasmacluster Ion technology and solar cells, increased. Also, demand in the Japanese domestic market recovered, thanks to such government stimulus packages as the Eco-Point System, a subsidy program to award "eco-points" for the purchase of environmentally-friendly consumer electronics.
Operating income was 21.0 billion yen, a decline of 23.9% compared to the previous quarter. Cost reductions implemented as part of the recovery plan yielded results, and while net sales were on a par with the same period last year, operating income showed an improvement of 36.8 billion yen from the operating loss of 15.8 billion yen recorded in the same period last year. As in the previous quarter, Sharp was able to deliver an operating income in excess of 20.0 billion yen.
Net income was 9.1 billion yen, up 22.0% from the previous quarter, a significant improvement of 74.9 billion yen from the same period last year.
As for the recovery plan, total costs for these past nine months were reduced by 179.0 billion yen compared to the same period last year. This figure represents 90% of our annual cost reduction target of 200.0 billion yen.