8:00AM New York - Honda Motor Corp. third quarter sales and revenue increased 10% to 3.044 trillion yen on increase in sales of motorcycles, automobiles and power products

Quarterly Earnings Review

Honda Motor Corporation reported third quarter sales and operating revenue jumped 10% to reach an all-time record at 3.044 trillion yen from a year earlier on a 8.3% jump in automobile sales in North America, Europe and Asia.

Third quarter net income rose 38.1% to 200 billion yen from 144.8 billion yen a year ago. Earnings per share increased to 110.25 yen per share from 79.25 yen per share a year earlier.

Honda said operating income climbed 34.7% from a year earlier to 276.2 billion yen.

The company declared a 22 yen per share dividend for the quarter.

Nine-Month Earnings Review

In the nine months ended December 31st, revenue rose to the seventh straight all-time record by 11.9% to 8.9 trillion yen from the previous comparable period. Operating income rose 30.4% from year ago to 784 billion yen.

Furthermore, net income jumped 38.1% to 574.6 billion yen.

Revenue

Sales of motorcycles for the third quarter dropped 14.4% to 2.366 million units year-on-year on lower sales of production products for overseas affiliates in Asia. However, there was a notable increase in sales in South America.

Automobiles sales in the third quarter increased 8.3% from the previous year to 991,000 units on growing demand in North America, Europe and Asia.

Sales in the power products segment dropped 14.8% year-on-year to 1.178 million units as demand slowed in North America.

Outlook

Honda forecasts full-year revenue will grow 9.6% to 12.1 trillion yen on projected sales of 9.23 million motorcycles, 3.90 million automobiles and 6.035 million power products.

Operating income for the year through March is projected to jump 8% from 851.8 billion yen a year ago to 920 billion yen.

Full year net income is expected to rise 16.5% to 690 billion from 592.3 billion yen a year earlier.
Honda also forecasts cumulative dividend for the full year at 86 yen per share.