Mazda Reports Third Quarter Financial Results for Fiscal Year 2006; Consolidated Operating Profit up 28 percent in the Final Year of the Mazda Momentum Plan.Tokyo Tokyo (tō`kēō), city (1990 pop. 8,163,573), capital of Japan and of Tokyo prefecture, E central Honshu, at the head of Tokyo Bay. , Japan, Feb 8, 2007 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - Mazda Motor Corporation today reported its financial results for the first nine months of fiscal year (FY) 2006 and announced revisions to its full-year financial projections. Highlights include: - Consolidated sales revenue up 9 percent year-on-year to 2,289.6 billion yen - Consolidated operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. up 28 percent to 107.3 billion yen - Full-year operating profit outlook revised upward to 158.0 billion yen, up 28 percent For the nine-month period of April through December December: see month. 2006, Mazda's consolidated sales revenues reached 2,289.6 billion yen, a 9 percent year-on-year increase over the same period in FY2005. Operating profit increased by 23.6 billion yen to 107.3 billion, up 28 percent from year-ago levels. This is due to an improved product mix, cost cutting efforts and positive effects of a depreciation in the Japanese yen “Yen” redirects here. For the other use, see Yen (disambiguation). “JPY” redirects here. For the Australian singer with the same moniker, see John Paul Young. , which offset higher raw materials prices. Ordinary profit increased by 23 percent to 83.9 billion yen and net income was 42.1 billion yen, up 2 percent over FY2005. However, excluding the one-time one-time adj. 1. or one·time a. Occurring or undertaken only once: a one-time winner in 1995. b. impact of an extraordinary gain from the transfer of pension fund liabilities and asset-impairment losses reflected in last year's results, net income was up 26 percent compared with the prior year. In addition, due to an accident involving a car-carrying vessel near the Aleutian Islands Aleutian Islands (əl  `shən), chain of rugged, volcanic islands curving c.1,200 mi (1,900 km) west from the tip of the Alaska Peninsula and approaching Russia's Komandorski Islands. of Alaska Alaska (əlă`skə), largest in area of the United States but third smallest (exceeding only Vermont and Wyoming) in population, occupying the northwest extremity of the North American continent, separated from the coterminous United States in July July: see month. 2006, an extraordinary loss, net of
projected insurance coverage, was recorded in the third quarter.On a geographic basis, despite strong sales of mini vehicles, Mazda retail sales in Japan were down 8 percent to 182,000 units due to the effects of reduced industry demand for registered vehicles. In the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , sales volumes reached 202,000 units, a 4 percent increase year-on-year, primarily due to the contributions from newly-launched models such as the Mazda CX-7, and the Mazda5 and MX-5 Miata. Strong demand in Europe for Mazda5 and Mazda6 diesel models, in addition to the MX-5, led to a retail volume of 219,000 units, an 11 percent increase. In China, a tough competitive environment resulted in a 4 percent decrease in sales to 98,000 units. Total wholesales for first 9 months of this fiscal year were higher in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Europe. This was offset by lower demand in Japan and other regions, resulting in consolidated Mazda wholesales of 829,000 units, down 1 percent on the same period last year. Full-year projections for FY2006 For FY2006, Mazda is forecasting all year-on-year profits to be at record levels for a sixth consecutive year of profit improvements. Global revenues are forecast to be 3,200.0 billion yen, up 10 percent on FY2005. Operating profit is forecast to reach 158.0 billion yen, a 28 percent improvement, and ordinary profit is forecast to grow by 28 percent, reaching 130.0 billion yen. Full-year net income is projected to rise 9 percent to 73.0 billion yen. Based on the results for the first nine months of the fiscal year, Mazda has revised the projections it announced in November 2006. Due to the impact of revised unit volumes, exchange rate assumptions and fixed costs fixed costs, n.pl the costs that do not change to meet fluctuations in enrollment or in use of services (e.g., salaries, rent, business license fees, and depreciation). , full-year projections for sales revenues and operating profit have been revised upward and forecasts for ordinary profit and net income have been revised down. In addition, with revised sales estimates for Japan and other regions, consolidated wholesales are projected to increase 2 percent over FY2005 figures to 1.17 million units. Mazda Representative Director and Chief Financial Officer David Friedman said, "Mazda's financial results for the first nine months of fiscal 2006 reflect progress despite challenging business conditions. We are pleased to see that our operating margin Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: has improved to 4.7 percent, up 0.7 points over last year. With less than two months remaining in the Mazda Momentum plan, we will continue to focus on steady improvement as we move forward in building a solid foundation for Mazda's future." April-December 2006 Financial Results </pre> ------------------------------------------------------------------------ (millions) Yen US$ Euro ------------------------------------------------------------------------ Sales Revenue 2,289,600 19,221.0 14,623.5 Operating profit 107,300 900.8 685.3 Ordinary profit 83,900 704.3 535.9 Net income 42,100 353.4 268.9 ------------------------------------------------------------------------ -Dollar equivalents compiled at 119.12 yen to the dollar (Exchange rate prevailing on Dec. 31, 2006). -Euro equivalents compiled at 156.57 yen to the Euro (Exchange rate prevailing on Dec. 31, 2006). ------------------------------------------------------------------------ </pre> * The projections for FY2006 and future outlook shown in this press release are based on various uncertainties including without limitation the conditions of the world economy in the future, automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. trends and the risk of exchange rate fluctuations. Please be aware that Mazda's actual performance may differ substantially from these projections. Please note that neither Mazda nor any third party providing information shall be responsible for any damage an individual may suffer due to investment in Mazda based on the information contained in this press release. About Mazda Motor Corporation Mazda Motor Corporation (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : 7261) started manufacturing tools in 1929 and soon branched out into production of trucks for commercial use. In the early 1960s, Mazda launched its first passenger car models and began developing rotary engines rotary engine, internal-combustion engine whose cycle is similar to that of a piston engine, but which produces rotary motion directly without any conversion from reciprocating motion. . Still headquartered in Hiroshima in western Japan, Mazda today ranks as one of Japan's leading automakers, and exports cars to the United States and Europe for over 30 years. Overseas sales account for more than half of total turnover. Mazda has two main production sites in Japan and 19 overseas facilities. Overseas sites include joint ventures based in the United States, and in Thailand with Ford Motor Company, Mazda's largest shareholder. Source: Mazda Motor Corporation Contact: Mazda Motor Corporation Ms. Mayumi Handa handa.ma@tky.mazda.co.jp +81-82-282-1111 Copyright [c] 2007 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K. |
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