Honda's profit drops 41 percent on Thai floods (AP)

TOKYO ? Honda Motor Co. says its net profit in the October-December quarter tumbled 41 percent to 47.6 billion yen ($625 million) due to the strong yen and supply chain disruptions from flooding in Thailand.

The Japanese automaker said Tuesday that it forecasts a 215 billion yen net profit for the full year through March, down nearly 60 percent from a year earlier.

Honda scrapped its earnings forecast in October, when it released the last quarterly earnings, because flooding in Thailand made the outlook too uncertain.

Quarterly sales slid 8 percent during the fiscal fourth quarter to 1.942 trillion yen, it said in a statement.

Source: http://us.rd.yahoo.com/dailynews/rss/earnings/*http%3A//news.yahoo.com/s/ap/20120131/ap_on_bi_ge/as_japan_earns_honda

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