Honda Global Profits Up 5.8 Percent
Honda Motor Co., Ltd. Closes its fiscal fourth quarter with an increase of 5.8 percent from the same period last year, totaling $805 million. Consolidated net sales and other revenue amounted to $29.2 million, increasing more than 14 percent after recovering from the impact of the Thai flood and currency translation effects. Consolidated operating income had an increase of 21.4 percent, thanks to an increase in cost reductions and favorable currency effects, even with increased R&D and SG&A expenses. However, equity in income decreased 60.7 percent from the same period last year, only totaling $139 million. Revenue in the automobile business operation increased 15.8 percent, with operating income totaling $822 million, declining 23.2 percent from the fiscal fourth quarter last year. Motorcycle business operations are up 17.4 percent, with operating income increasing 13.8 percent to $435 million. Power product and other business operations hit $863 million, an increase of 11.9 percent over the same quarter form last year. However, Honda reported an operating loss of $79 million.Source: PR Newswire
When we were standing around in Detroit in January, gazing longingly the 2014 Chevrolet Corvette Stingray for...