TNSC report their first consolidated financial summary since the merger of Nippon Sanso Corporation and Taiyo Toyo Sanso Corporation in October 2004.
TNSC net sales for the first three quarters of fiscal 2004 was $1,871 million USD compared with the first three quarters of 2003 which was $1,551 million USD for Nippon Sanso and $858 million USD for Taiyo Toyo Sanso.
Operating profit for the first three quarters of 2004 was $142 million USD compared with $96 million USD for Nippon Sanso and $24 million USD for Taiyo Toyo Sanso in the same period of 2003.
Net consolidated income for Quarter 1, 2 and 3 of 2004 for TNSC was $76 million USD in comparison with $ $53 million USD for Nippon Sanso and $16 million USD for Taiyo Toyo Sanso in 2003.
Consolidated earnings per share for TNSC were $0.23 USD, with earning per share for Nippon Sanso at $0.18 and Taiyo Toyo at $0.11.
It is important to note that the pre-merger business results of the two companies for fiscal 2003 has no direct comparison with the business results for TNSC for 2004. Changes in the scope of consolidation for the equity method had to account for 22 newly consolidated firms at the beginning of the 3rd quarter.
TNSC forecast their full term consolidated results for 2004 and for to be, net sales of $2804 million USD and net income of $112 million USD.