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InBusiness: Honda profits rise

Sat. July 26, 2008; Posted: 01:49 PM
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Jul 26, 2008 (Tulsa World - McClatchy-Tribune Information Services via COMTEX) -- HMC | Quote | Chart | News | PowerRating -- Honda Motor Co., Japan's second-largest automaker, posted an unexpected 8.1 percent gain in fiscal first-quarter profit after record gas prices spurred demand for its fuel-efficient Fit and Civic cars.

Net income rose to 179.6 billion yen ($1.7 billion), or 98.98 yen a share for the three months ended June 30, from 166.1 billion yen, or 91.38, a year earlier, the company said in a release Friday.

Honda is the only major carmaker this year to have boosted sales in the U.S., where it surpassed Chrysler as the fourth-biggest seller in May and June. The company increased U.S. sales of the Fit, as gasoline costs climbed to more than $4 a gallon.

Bratz mistrial weighed

The lawyer for the maker of Bratz dolls said Friday he will seek a mistrial over an ethnic slur made by a juror who has been dismissed from the copyright infringement case brought by Mattel Inc.

The juror made the remark about company CEO Isaac Larian during jury deliberations in the first phase of the federal trial in Riverside, Calif., said attorney Thomas Nolan, who represents MGA Entertainment Inc.

Nolan said the juror, a woman, was dismissed after another

member of the panel accused her of making inappropriate comments about Larian's ethnic background. Larian is Iranian.

Netflix beats forecast

Netflix Inc.'s second-quarter profit crept up 4 percent, beating analyst expectations as the online DVD rental leader signed up 168,000 new customers while spending less money to attract them to the service.

The Los Gatos, Calif.-based company said Friday that it earned $26.6 million, or 42 cents per share, from April through June, up from $25.6 million, or 37 cents per share, in the same period a year ago. The average earnings estimate among analysts surveyed by Thomson Financial was 40 cents per share.

Netflix shares gained $1.12, or 4.2 percent, to $27.85 in Friday trading.

To see more of the Tulsa World, or to subscribe to the newspaper, go to http://www.tulsaworld.com. Copyright (c) 2008, Tulsa World, Okla. Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.

For full details on Honda Motor Co. Ltd. ADS (HMC) click here. Honda Motor Co. Ltd. ADS (HMC) has Short Term PowerRatings of 7. Details on Honda Motor Co. Ltd. ADS (HMC) Short Term PowerRatings is available at This Link.

    


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