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Sharp forecasts bigger full-year operating loss
US-SHARP-EARNINGS:Sharp forecasts bigger full-year operating loss
TOKYO (Reuters) - Japan's Sharp Corp, the struggling maker of Aquos TVs, increased its full-year operating loss forecast to 155 billion yen ($1.94 billion) from a previous 100 billion yen loss forecast.
At a net level, Sharp slashed its full-year loss forecast to 450 billion yen from a previous forecast of 250 billion yen.
Sharp said, however, it expects to post an operating profit in the current October-March second half, after losing 168.9 billion yen ($2.11 billion) in the first half year - a target that will allow its banks to justify a $4.6 billion bailout of the TV maker.
Sharp reported a July-September operating loss of 74.8 billion yen, down from a 30.1 billion yen profit a year ago, as it booked a $1.1 billion charge for a restructuring it has promised in return for bank loans to keep it going.
The average forecast by five analysts surveyed by Thomson Reuters I/B/E/S was for a quarterly operating loss of 50.4 billion yen. ($1 = 79.9300 Japanese yen)
(Reporting by Tim Kelly; Editing by Ian Geoghegan)
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Related Keywords:US , SHARP , EARNINGS
