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(February 7, 2012)
| Sales | Operating Income (Loss) |
Net Income (Loss) |
|
|---|---|---|---|
| Third quarter period ended December 31, 2011 | 74,970(25.9%) | 3,347(-) | 1,268(-) |
| Third quarter period ended December 31, 2010 | 59,563(-17.2%) | (3,036)(-) | (3,927)(-) |
Notes: Listed values less than one million yen are rounded off.
Percentage figures represent comparisons to the third quarter period of the previous fiscal year.
| Sales | Operating Income | Net Income | |
|---|---|---|---|
| Full year term | 110,000(22.5%) | 4,200(-) | 1,500(-) |
Note: Percentage figures represent comparisons to the same period of the previous fiscal year.
Explanation concerning appropriate use of result forecasts and other matters of note:
The projections above are based on certain premises derived from information that has been available as of the day this material was released. The actual results may materially differ from the forecasts as a result of various unforeseen factors that may arise.
During the third quarter period under review, the Japanese economy experienced a gentle recovery, despite persisting harsh conditions in the wake of the Great Tohoku Earthquake. While the economies of the United States and emerging markets maintained a certain consistency, the European economy continued to slow against a backdrop of debt issues. Overall, the global economy experienced growing uncertainty.
In our industry, domestic production began to grow following a temporary decline attributable to parts procurement difficulties created by the earthquake. In the domestic market, replacement demand due to deterioration in existing equipment emerged gradually, strengthening demand. In overseas markets, while demand in Europe remained weak, demand in North America, Central and South America, the Middle East, and other regions grew significantly, driven primarily by energy- and resource-related markets.
The flooding in Thailand in October of last year had minimal effects on Tadano's supply chain. Procurement and production remained unhindered.
Domestic sales were 37,821 million yen, up 13.0% from the same period of the previous fiscal year, driven by growth in sales of Mobile Cranes, Truck Loader cranes, and Aerial Work Platforms. Overseas sales grew by 42.4% from the same period of the previous fiscal year to 37,148 million yen, as recovering demand boosted sales, despite intensifying competition under the influence of the strong yen. Total sales rose 25.9% to 74,970 million yen. The ratio of overseas sales to total sales was 49.6%.
Due to higher gross profits generated by higher sales and decreased costs as well as continuing efforts to cut overhead costs, we recorded an operating income of 3,347 million yen (vs. an operating loss of 3,036 million yen for the same period of the previous fiscal year). Net income for the quarter was 1,268 million yen (vs. a net loss of 3,927 million yen for the same period of the previous fiscal year), as the company chose to access deferred tax assets to take advantage of lower corporate tax rates.