Sharp has reported net profit of JPY4.2 billion (US$37.35 million) for fiscal third-quarter 2016 (ended December 2016), turning profitable from continued quarterly net losses for more than two years.
Sharp posted consolidated revenues of JPY571.5 billion for the quarter and net operating profit of JPY18.8 billion, the highest quarterly level since first-quarter 2015.
The financial improvement resulted from Sharp president and CEO Dai Cheng-wu's efforts to restructure the company. Dai was vice chairman for Foxconn Electronics and took over the Sharp posts in August 2016 after Foxconn became Sharp's biggest shareholder.
The consolidated revenues consisted of JPY245.4 billion from display panels and devices, JPY37.8 billion from IoT (Internet of Things) communications, JPY69.9 billion from health and environmental systems, JPY72.3 billion from business solutions, JPY72.2 billion from camera modules, JPY68.2 billion from electronic components and devices, and JPY21.1 billion from energy solutions.
For fiscal fourth-quarter 2016, Sharp forecasts consolidated revenues of JPY558.8 billion, net operating profit of JPY18.4 billion and net profit of JPY3.9 billion.