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Sharp supervised Foxconn net profit

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 Sharp supervised Foxconn net profit

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The last quarter of calendar 2016 was the first quarter for Sharp, which it held as a part of the Taiwanese company Foxconn Technology Group of the Japanese company.  Sharp absorption was completed in August 2016.  Since then, Sharp shares, has fallen into the strip losses over two years ago, have risen in price by 300%.  Foxconn has put on as CEO Sharp Mr. Tai Jen-wu  - it is the right hand of the president of Foxconn Terry Gou.  

Thus, in the reporting quarter, Sharp for the first time in two years showed a net profit.  For this it thanked the cost reduction and reduction of production costs.  In other words, the optimization of production.  This was also able to improve the prognosis of profit for the full fiscal year, which for Sharp end on March 31st.  More precisely, the company expected before year-end losses at the level of 41.8 billion yen.  In the new situation sees Sharp decline in losses to 37.2 billion yen ($ 329 million).  Analysts, which is typical, expected losses from large companies - at 53 billion yen loss for the year.

Going back to already completed reporting quarter, we note that Sharp's revenue for the period was approximately $ 5.08 billion. The annual regard this index decreased by 13.8%.  But for the year quarterly operating loss of $ 33.8 million were replaced by an operating profit of $ 167 million. Back dragged lower sales volumes and a decrease in average selling prices, but the reduction of overhead costs and optimization of assortment helped to return to profit.  Net income for the reporting period amounted to $ 37 million. A year ago, Sharp has recorded a net loss of $ 218 million.

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