UPDATE 1-Sharp returns to Q3 profit, keeps annual outlook

* Q3 op profit at 21.0 bln yen vs 15.9 bln yen loss yr earlier

* Turnaround helped by healthy flat TV demand

* Shares down 0.4 pct ahead of results, lags sector index
(Adds closing share price, background)

TOKYO, Feb 3 (BestGrowthStock) – Consumer electronics maker Sharp
Corp (6753.T: ) swung to a quarterly profit on solid demand for LCD
TVs and solar cells, and it maintained its annual profit outlook,
in line with market expectations.

Sharp, the world’s fourth-largest LCD TV maker and a major
supplier of display panels to other TV producers, has gained from
strong flat screen TV demand in emerging markets such as China,
which shored up panel prices and kept supplies tight.

The maker of Aquos brand LCD TVs in October started
operations at the world’s first LCD panel plant in Japan that
uses so-called 10th-generation glass substrates, which are bigger
than earlier-generation substrates, allowing it to produce panels
and TVs more efficiently.

Sharp, which trails Samsung Electronics Co (005930.KS: ), Sony
Corp (6758.T: ) and LG Electronics Inc (066570.KS: ) in LCD TVs, on
Wednesday kept its annual operating profit forecast of a 50
billion yen ($552 million)

That would be a turnaround from a 55.48 billion yen loss a
year earlier, and roughly on par with a consensus for a 51.4
billion yen profit in a poll of 20 analysts by Thomson Reuters

Global sales of displays used in LCD TVs will likely surge 40
percent to $49.2 billion this year amid a shift in demand to
large-sized and more advanced panels, research firm iSuppli said
last week, boding well for Sharp and other electronics makers.

Operating profit was 21.0 billion yen in October-December, up
from a 15.86 billion yen loss a year earlier.

Prior to the announcement, shares in Sharp closed down 0.4
percent at 1,132 yen, underperforming the Tokyo stock market’s
electrical machinery index (.IELEC.T: ), which rose 0.4 percent.

Sharp shares have climbed 16 percent over the past three
months, beating the subindex’s 9 percent gain.

Investing Research

(Reporting by Kiyoshi Takenaka; Editing by Valerie Lee)

UPDATE 1-Sharp returns to Q3 profit, keeps annual outlook