Komatsu America Corp.

Komatsu Q1 2013 Sales Drop 3% on Weak Mining-Equipment Demand

Komatsu retains its financial-performance outlook for the fiscal year (ending March 31, 2014) despite a 3 percent drop in net sales for its first quarter to $4.6 billion and operating income of $529 million, 6 percent below the previous fiscal year's first quarter.

Komatsu Q1 2013 Financial Results

The company's quarterly financial report said reduced demand for construction equipment and mining equipment in Indonesia and reduced demand for mining equipment in Latin America was offset by expanded construction-equipment and parts sales mainly in Japan and the Middle East. Construction-equipment sales in China turned around, improving 1.7 percent.

2013 Outlook 

Komatsu continues to expect nearly-9-percent growth in net sales to 2,050 billion yen, with operating income growing 44 percent to 305 billion yen.