NTN Corporation (Japan) reported first quarter fiscal 2003 sales and earnings, for the period ended June 30, 2003.

Sales were ¥87.71 billion (USD $737 million) in the quarter, with operating profit of ¥5.81 billion ($49 million). Net profit hit ¥3.17 billion ($27 million).

At the same time, NTN raised its six-month and full-year forecasts, now projecting profits for the first six months to September 30, 2003 will be almost double what the company earned in 2002.

Previously, NTN had projected six-month sales of ¥170 billion; now the company projects sales will be ¥175 billion, up sharply from 2002's sales of ¥167 billion. Profits are also expected to jump; previously projected at ¥7 billion, the forecasts has been raised to ¥9 billion. Again, the forecast represents a major step from 2002's ¥4.78 billion.

For the full fiscal year 2003, ending March 31, 2004, NTN has moved from projecting a slight sales increase to ¥348 billion from 2002's ¥343 billion. Now the company says it expects sales will jump to more than ¥356 billion.

Full year profits are now forecast to be ¥12 billion, from ¥2.76 billion earned in 2003.



Other News:
NTN Reports First Quarter 2003 Results
The Timken Company Exploring Strategic Options for Standard Plant
An American-Japan Bearing Joint Ventuer Settles in Suzhou,China
Workers on Strike at Gabriel Bearing Plant in India
China Xinchang County Bearing Technology Creation Center Founded
New centre to boost bearing development
As a pioneer in the Needle Roller Bearing field, the experience and achievements amassed are reflected in the Linear se
NSK Chairman Sekiya becomes Chairman of Japan-Poland Economic Committee