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Nissan returns to profit in Oct-Dec quarter
Staff and agenciesBy JAY ALABASTER, Associated Press Writer Jay Alabaster, Associated Press Writer – 50 mins ago
The company posted a 44.97 billion yen ($502 million) net profit in its third quarter, versus a 83.16 billion loss a year earlier. Sales increased to 2.00 trillion yen from 1.82 trillion yen.
During its third quarter, the company was able to climb back to a profit through an increase in sales, along with major cost cutting in areas such as advertising and sales. It also said it got a boost from expanding markets, including China.
Nissan has been struggling during the global economic downturn, but climbed back into the black during the previous July-September quarter.
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