Sharp Reports First Loss Since 1950

March 20, 2009 - ProAV News, rAVe [PUBS],

Sharp Electronics, the leading supplier of flat-panel monitors worldwide, this week reported that it expects its first annual loss since 1950, when it reported a quarterly loss of more than 65 billion Japanese Yen (approx $720 million US dollars). This is not good news for Sharp when you compare this to last year’s same quarter when Sharp announced nearly a 30 billion Yen profit (approximately $310 Million US dollars).

Interestingly, Sharp says that no worldwide job cuts will occur other than to cut off some 1500 or so temporary or contract workers. That’s good news for Sharp USA – who is currently under a massive restructuring that will lead to changes in the reporting structure – more to be reported on that as it develops.

Sharp can be found here.