KYOTO, Japan, Jan. 25, 2011 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) today announced consolidated results under U.S. GAAP for the third quarter (October-December 2010) and nine months (April-December 2010) of its fiscal year ending March 31, 2011.
The following are the highlights:
- Nine-month Operating Income Up Over 40% Y/Y to a Record High.
- General Motors* (including formerly Emerson Motors & Controls operations) Nine-month Operating Income Swung to Positive.
- Projected Year-end Dividend and Annual Dividend Revised Upward to 45 Yen (Up 5 Yen), and 85 Yen, Respectively.
* The product group previously classified as "Mid-size Motors" has been renamed "General Motors," reflecting the inclusion of Large-size motor lines of U.S. Emerson's Motors & Controls operations (acquisition transaction completed on Sep. 30, 2010).
| Consolidated Results of Operations (unaudited) | Yen in millions (except for per share amounts) | |||||
|
Nine months ended December 31 |
Increase (Decrease) |
Three months ended December 31 |
Increase (Decrease) |
|||
| 2010 | 2009 | 2010 | 2009 | |||
| (unaudited) | (unaudited) | |||||
| Net sales | 520,046 | 421,134 | 23.5% | 179,255 | 152,391 | 17.6% |
| Operating income | 73,551 | 51,837 | 41.9% | 22,029 | 23,516 | (6.3%) |
| Ratio of operating income to net sales | 14.1% | 12.3% | -- | 12.3% | 15.4% | -- |
| Income from continuing operations before income taxes | 61,330 | 47,773 | 28.4% | 20,037 | 25,299 | (20.8%) |
| Ratio of income from continuing operations before income taxes to net sales | 11.8% | 11.3% | -- | 11.2% | 16.6% | -- |
| Net income attributable to Nidec Corporation | 40,830 | 30,103 | 35.6% | 13,816 | 16,315 | (15.3%) |
| Ratio of net income attributable to Nidec Corporation to net sales | 7.9% | 7.1% | -- | 7.7% | 10.7% | -- |
| Net income attributable to Nidec Corporation stockholders per share-basic | 293.02 | 216.12 | -- | 99.08 | 117.13 | -- |
| Net income attributable to Nidec Corporation stockholders per share-diluted | 285.75 | -- | -- | 92.72 | -- | |
Full copy of the financial statements for Nidec's third quarter and nine months ended December 31, 2010: http://www.nidec.co.jp/english/ir/lib/indexdata2/2011/Q3_3.pdf
A conference call webcast (audio-only, user-control slides attached) discussing Nidec's financial results for the third quarter and nine months ended December 31, 2010 is scheduled for 09:00 a.m. EST on Tuesday, January 25, 2011. To listen to the webcast, please visit Nidec website at: http://www.nidec.co.jp/english/ir/information/FY10Q3
About Nidec Corporation
Nidec Corporation (NYSE:NJ) (Tokyo/Osaka: 6594) is a global leader in electric motor drive technology. For the nine months ended December 31, 2010, "Small Precision Motors" and "General Motors" represented 65.5% of the total sales; "Electronic and Optical Components," "Machinery," and "Others" comprised the remainder. Nidec was founded in Kyoto, Japan in 1973 by Shigenobu Nagamori, its current President and CEO.
The Nidec Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=1734