OREANDA-NEWS. Sharp Corporation announced its results for the fiscal year ended March 31, 2013.

As a result, consolidated financial results for the fiscal year recorded net sales of 2,478.5 billion yen, an in crease of 0.9% compared to the last year, while operating loss was 146.2 billion yen, due mainly to decreased gross margin rate caused by intensified competition and additional inventory reduction. We posted net loss of 545.3 billion yen, due mainly to write-down of noncurrent assets, restructuring charges recorded as an extraordinary item in Other Expenses and a reversal of deferred tax assets.

Consolidated financial results for the six months ended March 31, 2013, on the other hand, recorded net sales of 1,374.4 billion yen, up 20.4% compared to the same period in the previous year and returned to profitability of 22.6 billion yen at the operating level, which is an improvement of 93.7 billion yen from the loss of 71.1 billion yen in the same period last year.