January 31, 2013 / 11:06 PM / 4 years ago

Sharp returned to profit in Oct-Dec, sources

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TOKYO, Feb 1 (Reuters) - Sharp Corp likely swung back to the black for the three months through December, its first operating profit in five quarters, on strong sales of home appliances and mobile phones, sources familiar with the matter said on Friday.

The sources said Sharp would likely post an operating profit of 2 billion to 3 billion yen ($22 million-$33 million) for the third quarter, compared with a previous forecast of an operating loss.

A weaker yen boosted Sharp's October-December earnings, they said. The company is due to report third-quarter results later in the day.

The sources said Sharp was likely to keep its second-half operating profit forecast of 13.8 billion.

The expected rebound in earnings would bolster its chances of a return to profit for the remainder of the business year that it needs to convince lenders and shareholders, including U.S. chipmaker Qualcomm Inc, that it is viable.

The consumer electronics maker in November doubled its full-year net loss forecast to $5.6 billion.

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