OREANDA-NEWS. Sharp Group Reports Consolidated Financial Results for the First Quarter Ended June 30, 2014.

The Sharp Group has worked to create and strengthen sales of original products and distinctive device that meet our customers' needs, such as Ocha-Presso, a household tea machine, and IGZO LCDs.

Sharp also developed business activities on a company-wide basis to improve business foundation, including an inventory optimization, radical cut in total costs, and structural reform of solar cell business in Europe.

As a result, consolidated financial results for the three months recorded net sales of 619.7 billion yen, up 1.9% compared to the same period in the previous year, and operating income of 4.6 billion yen, up 55.0%. Main items in other income (expenses) were a reversal of provision for loss on litigation of 19.2 billion yen and a settlement of 14.3 billion yen on solar cell business in Europe. Net loss was 1.7 billion yen, an improvement from a loss of 17.9 billion yen.