Nissan returns to profit in latest quarter, AS

Wed, Nov 4 07:58 AM

TOKYO (AP) Struggling Japanese automaker Nissan says it has climbed back into the black in the latest quarter and is predicting a smaller yearly loss. Nissan Motor Co.

posted net profit of 25.5 billion yen ($270 million) in the July-September period after three straight quarters in the red. The result is 65 percent lower than last year but far better than its 16.5 billion yen loss in the April-June quarter.

Japan's third-biggest car company says sales growth in China and the elimination of incentives in major markets contributed to the better-than-expected results. As such, Nissan has lifted its estimates for the full fiscal year through March 2010.

It now projects a narrower net loss of 40 billion yen compared with its previous estimate of a 170 billion yen loss.

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