Reuters: Technology News: Sharp to post worse than forecast full-year loss: sources

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Sharp to post worse than forecast full-year loss: sources May 1st 2013, 00:34 Tweet Share this Email Print Related News iPhone supplier Japan Display turns to smaller smartphone makers Mon, Apr 15 2013 Analysis & Opinion Why Abenomics is leading to a squid shortage in Japan Return to glory days may elude Japan's automakers A woman walks past the Sharp Corp's Logo at a train station in Tokyo March 6, 2013. Credit: Reuters/Yuya Shino TOKYO | Tue Apr 30, 2013 8:34pm EDT TOKYO (Reuters) - Sharp Corp Japan's leading maker of liquid crystal displays posted a worse than forecast 500 billion yen ($5.1 billion) net loss in the year that ended March 31 as panel plants asset write offs crimped its bottom line, two sources with knowledge of the earnings result said. Lower than anticipated production levels have left the company with excess capacity, the sources said on condition they were not identified. Sharp will also book charges to put aside cash to cover possible fines stemming from a panel cartel investigation in Europe, they added. The expanded loss was first reported in the Nikkei business daily. Sharp's operating profit for the second half of its business year was 20 billion yen compared with the company's forecast for 13.8 billion yen, the sources said. ($1 = 97.4100 Japanese yen) (Reporting by Reiji Murai; writing by Tim Kelly) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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