Nissan earns $6.27B in CY 2010

Nissan's strong sales and increased revenue led the automaker to a $6.27 billion operating profit for 2010. Nissan, which counts January through March as its fiscal fourth quarter, managed overall revenue of $102 billion, while net income came in at $3.72 billion after taxes.

The automaker's recipe for success had everything to do with product, as sales jumped 19 percent compared to 2009 numbers. The automaker moved 4.185 million vehicles in total, up over 600,000 units versus the prior year. The automaker's China sales were also quite successful, with a 35.5 percent increase year over year.

Nissan managed hefty profits in spite of the March 11 earthquake in Japan, which contributed to many production disruptions. Results for the fiscal fourth quarter were down considerably to $380 million; a trend that is likely to continue as Nissan continues to struggle to get its plants running at full capacity again.

NISSAN POSTS OPERATING PROFIT OF 537.5 BILLION YEN FOR FY10
Record global sales; Nissan LEAF heralds start of affordable zero-emission mobility

Nissan Motor Co., Ltd., today announced financial results for the fiscal year 2010, ending March 31, 2011, and filed the following results with the Tokyo Stock Exchange:

Net revenues of 8.7731 trillion yen (US $102.37 billion, euro 77.57 billion);
Operating profit of 537.5 billion yen (US $6.27 billion, euro 4.75 billion);
Ordinary profit of 537.8 billion yen (US $6.28 billion, euro 4.76 billion); and
Net income of 319.2 billion yen (US $3.72 billion, euro 2.82 billion).

In fiscal year 2010, Nissan's global sales reached a record-high level. In a year when the total industry volume was up 12.6% - from 64.5 million units in fiscal 2009 to 72.6 million worldwide in fiscal 2010 - Nissan's global sales increased 19.1%. Vehicle sales grew from 3.515 million to 4.185 million units. For the full year, overall global market share stood at 5.8%.

"Fiscal year 2010 was a record year for Nissan in terms of sales and growth," said Nissan President and CEO Carlos Ghosn. "Our recovery efforts were effective, and new models launched in the second half - including the all-electric Nissan LEAF - boosted our brand and sales power in the world's major markets."

In fiscal year 2010, 10 all-new products were released by Nissan globally: Juke, Elgrand, Serena, Moco, Infiniti QX, Quest, Murano CrossCabriolet, NV series, Sunny and the zero-emission Nissan LEAF.

Nissan sold a total of 4,185,000 vehicles worldwide in fiscal year 2010, a 19.1% increase compared with the prior year. Sales in China, Nissan's largest single market worldwide, reached a record 1,024,000 units, a 35.5% increase. In North America, sales were 1,245,000 units, up 16.6%; United States sales were 966,000 units, up 17.3%. Across Europe, sales were 607,000 units, up 19.3%. In Japan, sales were 600,000 units, down 4.7%. Other markets totaled 709,000 units, up 28.2%.

"The March 11 earthquake in Japan significantly disrupted our operations, but Nissan is once again proving its resilience in the face of adversity," said Ghosn. "We have repeatedly demonstrated our experience in recovering short-term performance while protecting strategic, long-term priorities. Although the effects of this tragedy continue to affect our operations, we are poised for a robust recovery."

Note 1: On February 9, 2011, Nissan filed the following forecast with the Tokyo Stock Exchange, based on foreign exchange rates of 85.4 yen/dollar and 112.5 yen/euro, for the fiscal year ending March 31, 2011:

Net revenues of 8.8 trillion yen (US $103.04 billion, euro 78.22 billion);
Operating profit of 535 billion yen (US $6.26 billion, euro 4.76 billion);
Ordinary profit of 530 billion yen (US $6.21 billion, euro 4.71 billion); and
Net income of 315 billion yen (US $3.69 billion, euro 2.80 billion).

Note 2: Amounts in dollars and euros for the results are translated for the convenience of the reader at foreign exchange rates of 85.7 yen/dollar and 113.1 yen/euro, the average rates for the fiscal year ending March 31, 2011.
http://www.autoblog.com/2011/05/12/nissan-earns-6-27b-in-cy-2010/