Honda Motor Q3 Profit More Than Doubles; Backs FY14 Profit View - Quick Facts

(RTTNews) - Japanese automaker Honda Motor Co. Ltd. (HMC) reported that its third-quarter of fiscal 2014 net income attributable to the company increased 107.6% to 160.7 billion yen from 77.4 billion yen in the same quarter last year. Earnings per share for the quarter improved 46.21% to 89.18 yen from 42.97 yen in the prior year quarter. Operating income for the quarter increased 73.2% to 228.5 billion yen from the prior year's 131.9 billion yen mostly due to a rise in income associated with changes in sales volume and model mix, cost down effects as well as the positive impact of a weaker yen, despite increased SG&A and depreciation expenses.

Net sales & other operating revenue for the quarter grew 24.5% to 3.021 trillion yen, from last year's 2.426 trillion yen, mainly due to a rise in automobile and motorcycle net sales as well as the positive impact of foreign exchange effects.

For fiscal 2014, the company still expects net income attributable to the company to be 580 billion yen, operating income of 780.0 billion yen, and net sales and other operating revenue of 12.10 trillion yen.