Kawasaki 1Q Sales Up, Income Down
Kawasaki Heavy industries, the Japan-based supplier of railcars, ships, construction machinery and powersports vehicles, reported net income of 1.62 billion yen or 1.1 million yen per share for its first quarter ended June 30, 2005. These results are down from net income of 2.72 billion or 1.9 million yen per share for the same period last year.
First quarter net sales were 264 billion yen, up from 261 billion yen for the same three months of 2004; gross profit was 31.92 billion yen, down from 32.17 billion yen for the previous year’s first quarter.
The company posted 84.28 billion yen in net sales of consumer products and machinery, up from sales of 81.53 billion yen in the first quarter of 2004. Consumer products include powersports vehicles. Operating income from consumer products and machinery was 3.20 billion yen, up from 978 million yen in 2004.
For the full year ending March 31, 2005, Kawasaki’s consumer products and machinery sales were 338.5 billion yen, up 20.1 billion yen or 6.3% from the prior year.
Full year worldwide sales of Kawasaki motorcycles, ATVs, utility vehicles and personal watercraft amounted to 541,000 units, up 73,000 units or 15.6% from powersports vehicle sales during the prior year. Of those total worldwide powersport vehicle sales, sales in North America totaled 217,000 units, up 26,000 units or 13.6% from North American sales last year.
Kawasaki forecasts net sales of 1.2 trillion yen and net income of 14 billion yen for the year ending March 31, 2006.
