Ailing Japanese electronics giant Sharp said it had a better-than-expected operating profit for the period of October to December last year.
Speaking to reporters in Osaka, Japan, Sharp president Takashi Okuda said its third quarter operating profit was bigger than planned thanks mostly to higher revenue from large household appliances and a slight pickup in LCD (liquid crystal display) TV sales, Reuters reported Monday.
Sharp had posted an operating loss of 24.5 billion yen (US$278 million) in the October-December period in 2011, the report added.
is in need of fresh financing. It projected an operating profit in the October-March second half of its business year, which will unlock additional funds from banks, after the company won a US$4.4 billion bailout from its lenders in October, Reuters said.
Okuda also said talks with its Taiwanese partner, Hon Hai Precision Industry--also known as Foxconn--were still ongoing.
Sharp agreed to havein exchange for much-needed capital injection last March, but the has since met with several bumps, including Sharp's and plans. Foxconn, meanwhile, has said it expected a say in Sharp's in return for its investment.
Just last month, Sharp received ato jointly develop display panels with Qualcomm subsidiary, Pixtronix. As part of the agreement, Sharp will issue new shares to Qualcomm.