Sharp Posts $265 Million Quarterly Loss

[Coventina]

Source: New York Times

TOKYO (AP) -- Japanese electronics maker Sharp Corp. sank to a loss last quarter as a companywide effort to cut costs failed to offset plunging demand.

The maker of the Aquos line of liquid crystal display televisions Thursday reported a net loss of 25.2 billion yen ($265 million) for the April-June period, diving from a profit of 24.9 billion yen the same period last year.

Fiscal first quarter sales at the Osaka-based company fell 20 percent to 598.3 billion yen ($6.30 billion) from 747.8 billion yen from the year before.

It said weak economic conditions persisted during the quarter, with the global recession causing demand to fall sharply.

Despite recent signs of recovery in private consumption in Japan and other Asian countries, "the slowdown continued in the U.S. and Europe," Sharp said in a statement.

Read more: http://www.nytimes.com/aponline/2009/07/30/business/AP-AS-Japan-Earns-Sharp.html

[NashVegas]

1. Maybe Congress Can Mandate Another Techology Switch

And force us all to get internet-capable Toasters.