TOKYO (dpa-AFX) - Japanese electric motors maker Nidec Corporation (NJ) Wednesday said its profit before tax in the first quarter increased 30.3% to to 56.989 billion Yen from 43.752 billion Yen in the same quarter year ago.
Profit from continuing operations rose to 41.887 billion Yen from 33.384 billion Yen last year.
Operating profit in the first quarter was 44.66 billion Yen, compared with 44.555 billion Yen a year ago.
Net sales for the quarter grew 20.8% to 540.369 billion Yen from 447.47 billion Yen in the previous year.
Looking forward, the company expects net sales to be 950 billion Yen for the six-month period ending September 30, 4.3% up from the same period last year.
Profit before tax for the six-month period is expected to be 93 billion pounds, 6.8% growth from a year ago.
For the full year, the company expects net sales to be 2,100 billion Yen and profit before tax to be 206 billion Yen, up 9.5% and 21.2% respectively from the year-ago period.
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