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Honda Faces Fall In Profit For Q3
For the third quarter, the net income earned by the company was 5 million which was 39.7% low compared to $ 1.640 billion in the same quarter in 2010.
Also, Net sales and other operating revenue for the quarter declined from $ 27.29 billion to .90 billion. Honda noted that the decline in revenues were primarily due to the unfavorable currency translation effects and decreased in sale in Japan, despite the increased revenue in the Asian countries.
Planning for the rest of 2011, Honda motors expects net income attributable to the company to be 530 billion yen (293.41 yen per basic share). The current expectation is higher than the Honda motor"s previous earnings forecast of 500 billion yen (276.80 yen per basic share). The growth over the net sales and other operating revenue for the full year 2011 is expected to be 3.7% more than the previous year.
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