Posted February 5, 2010
NSK's Q3 sales rise 1.6%
Bearings manufacturer NSK reported third quarter sales rose 1.6% to ¥155.7 billion (about $1.74 billion).
That compares to ¥153.2 billion ($1.71 billion) in the same period last year.
For the nine-month period, consolidated sales fell 22.9% to ¥413.6 billion ($4.6 billion). Operating incomed decreased 95.5% to ¥1.5 million, and the company reported an ordinary loss of ¥3.4 million.
Sales to general industrial machinery manufacturers, electrical machinery manufacturers and the aftermarket sector all declined as a result of the global recession. In the Americas, nine-month sales fell by 25.5% to ¥48.68 million.
Global net sales in the automotive products business totaled ¥260 million, a decrease of 12.1%, while sales in the precision machinery and parts business totaled ¥21.5 million, a decrease of 53.7%.
