In Tokyo this morning Honda Motor Co., Ltd. (NYSE: HMC) said it posted a ¥31.8 billion profit ($414.2 million) for the fiscal first quarter ending June 30, 2011. The results were hurt by the Japanese earthquake and tsunami, which interrupted vehicle production, but helped by revenue from Honda’s motorcycle business. In the year earlier quarter, Honda earned ¥272.49 billion in net profit. For comparison consider Nissan earned ¥150 billion for Q1.
Net income per common share for the quarter amounted to ¥17.64 ($0.22), a decrease of ¥132.63 from ¥150.27 for the corresponding period last year.
Honda’s automobile unit sales totaled 547,000 units, a decrease of 39.2% from the same period last year due to production disruptions in all regions from the Japan Earthquake and Tsunami.
Revenue from sales decreased 35.1%, to ¥1,176.9 billion ($14,578 million), from the same period last year due mainly to decreased sales and unfavorable currency translation effects. Honda reported an operating loss of ¥ 76.2 billion ($944 million), a deterioration of ¥225.1 billion from the same period last year, due primarily to decreased unit sales and increase in fixed cost per unit.
| Proj. sales year ending 31 March 2012 |
Unit (thousands) |
Changes from FY2011 |
|
(thousands) |
||
| Motorcycle business |
12,705 |
+ 1,260 |
| Automobile business |
3,435 |
– 77 |
| Power product and Other Businesses |
6,075 |
+ 566 |
| Fiscal year ending March 31, 2012 | ||
|
Yen (billions) |
Changes FY 2011 |
|
| Net sales and other operating revenue |
8,700 |
– 2.7% |
| Operating income |
270 |
– 52.6% |
| Income before income taxes and |
285 |
– 54.8% |
| equity in income of affiliates | ||
| Net income attributable to |
230 |
– 56.9% |
| Honda Motor Co., Ltd. |
Yen |
|
| Basic net income attributable to |
127.61 |
|
| Honda Motor Co., Ltd. per common share |
