2:00PM New York - Isuzu Motor’s net income rose 2.5% from 219 billion yen a year ago to 244 billion yen in the third quarter as sales growth in emerging markets lifted revenues.

Quarterly Earnings Review

Isuzu Motor Corp. reported third quarter sales revenue increase of 28.5% to 430 billion yen as export shipments grew to 6,000 units from 5,000 units a year ago and Middle East and Africa climbed to 15,000 units from 11,000 units last year.

Net income increased 2.5% from 219 billion yen in the year-ago quarter to 244 billion yen in the quarter ended December 31.

Operating profit in the period remained unchanged at 28 billion yen.

Nine-Month Earnings Review

Sales revenue in the nine months ended December 31st soared 78.3% from 1.22 trillion yen a year ago to 1.30 trillion yen.

Net income dropped 15.9% from 77 billion yen a year earlier to 61.4 billion yen as sales in Thailand were hurt by political turmoil and North America sales slowed due to the transition to the 07EPA.

In addition, operating profit decreased 9.2% year-on-year to 76.4 billion yen.

Revenue

Sales revenue generated from the domestic markets and export climbed 24.2% from 232.1 billion yen a year ago to 256.3 billion yen .

Furthermore, sales from domestic dealers rose 8.8% from 102 billion yen a year ago to 103.4 billion yen.

Sales generated from North America slipped 9.5% to 101 billion yen, while sales to the African market increased 11.1% year-on-year to 131.8 billion yen.

Shipments

During the third quarter, shipments to Europe grew to 5,000 units from 6,000 units a year ago, and exports to China rose to 8,000 units from 5,000 units.

Similarly, exports to the Middle East, Africa increased to 15,000 units from 11,000 units.

Shipments to the U.S. slowed to 5,000 units from 10,000 units a year ago, while shipments to Asia remained unchanged at 8,000 units.

Sales of the CV model rose to 26,000 units from 21,000 units and sales of CV and LCV’s increased to 13,000 units from 8,000 units a year ago.

In the Middle East, sales of N-series continued to grow in Saudi Arabia. Also, F-series sales expanded to 32,000 units from 30,000 units.