8:00AM - Toyota Motor Corp.’s net revenues rose 9.2% to 6.7 trillion yen on increases in vehicle sales to 2.2 million units from 2.1 million units in the previous quarter[/R]

Quarterly Earnings Review

Toyota Motor Corp. reported third quarter revenues leapt 9.2% to 6.7 trillion yen from 6.1 trillion yen a year ago as the company saw increasing sales in Asia, Latin America and Africa. Vehicle sales in Northern America also rose despite the slowing economy.

In the third quarter, net income rose 7.5% to 458 billion yen from 426 billion yen a year ago. Third quarter earnings per share jumped to 144.47 yen from 133.21 in the same quarter the previous year.

Toyota said operating income jumped 4.7% to 601 billion yen from 574 billion yen last year on increased sales and a weaker yen.

Nine Month Earnings Review

In the nine months ended December 31st, net revenues jumped 11.9% to 19.7 trillion yen from the same comparable period. Operating income gained 12.3% from 1.66 trillion yen a year ago to 1.87 trillion.

Furthermore, net income in the nine months ended December 31st, climbed 16.4% from 1.2 trillion yen a year earlier to 1.4 trillion yen in the latest quarter.

Earnings per share in the period also rose to 439.98 yen from 374.53 billion yen.

Revenue

Vehicle production in Japan for Daihatsu brand fell to 197,000 units from 208,000 units in the comparative period a year ago, while production of Hino jumped to 28,000 units from 22,000 units last year.

In the overseas market, Daihatsu and Hino production spiked to 843,000 units from 773,000 units in the same period a year ago.

In addition, vehicle sales in North America during the quarter increased to 300,000 units from 286,000 units the same period a year ago.

Sales in Europe however remained unchanged at 183,000 units.

Vehicle sales in Asia advanced to 241,000 units from 188,000 units in the same period a year ago, while unit sales in Latin America grew to 40,000 units from 37,000 units last year.

Outlook

Toyota estimates that full-year revenues will rise 6.5% to 25 trillion yen and operating income is expected to gain 2.7% to 2.3 trillion yen.

Full-year net income is forecasted to increase 3.4% to 1.7 trillion yen.