Thread: Mazda Reports 35 percent Higher Profits
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Old May 2, 2005 | 08:14 AM
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Default Mazda Reports 35 percent Higher Profits
On the eve of introducing a trio of new products in the U.S., Mazda Motor Corp., Japan's fourth-largest carmaker, said its profits rose 35 percent, thanks to reduced costs and gains from a stronger euro against the yen.

Mazda's net income for the fiscal year that ended March 31 rose to $432 million. Though higher than last year, the profit was below analysts' expectations. Mazda expects its net income to rise 20 percent in the next fiscal year, which ends in March 2006.

Mazda's optimism about the future comes from the fact that it will be introducing major new products, particularly the redesigned MX-5 Miata.

In the U.S., the Mazda 5, the small minivanlike vehicle, arrives in dealerships around July. The MazdaSpeed6 performance sedan goes on sale in late summer. And the MX-5 Miata arrives in the U.S. for a September-October launch.

This is a bright spot for Ford Motor Company as it struggles to find regular profits from its many brands. A strong financial performance from Mazda ensures that brand is likely to have a steady stream of cool products into the future.

http://www.edmunds.com/insideline/do...ticleId=105511
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