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NewsPoster Aug 1, 2013 09:05 AM
Sharp reports $182M quarterly loss, IGZO displays drive revenue rise
<a href=" touch.stylus.control/" rel='nofollow'>Sharp</a> has reported an improvement in its financial situation in its latest quarterly <a href="" rel='nofollow'>results</a>, as the company fights to shake off the monetary issues endured in the last year. While it managed to report a loss of 19.9 billion yen ($182 million) for the quarter, it is a significant improvement from the $1.2 billion loss it endured last year. <br />
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Revenues according <a href="" rel='nofollow' target="_self" title="">to</a> <em>The Next Web</em> hit 607.9 billion yen ($6.2 billion) for the quarter, a 32.6-percent year-on-year improvement. Sharp believes this increased revenue is down to a combination of a weak Yen and an increase in smartphone sales, which in turn generated more shipments of its <a href="" rel='nofollow'>IGZO display panels</a> to manufacturers, as well as camera modules.<br />
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While the financial results are a good sign for the company, enough for it to forecast a 5 billion yen ($51 million) profit for the entire financial year, it is still a troubled business. It has revealed a plan to cut <a href=" office/" rel='nofollow'>5,000 jobs</a> over the next three years, seeked a <a href="" rel='nofollow'>$1 billion</a> bailout loan from Japanese banks to cover a bond redemption, and reported a net loss of <a href=" owing.massive.loss/" rel='nofollow'>$5.3 billion</a> for the full 2012-2013 financial year, a greater loss than any other year in its last 100 years of doing business.
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