Honda Q4 Profit Drops

reported a drop in its net profit for the fiscal fourth quarter. For the latest quarter, Honda's net profit shrank to 97.8 billion yen ($897 million), versus a year-ago profit of 170.5 billion yen. Its sales gained 8 percent to 3.35 trillion yen ($28 million). In the US, the company sold 333,943 vehicles in the quarter. For the current fiscal year, the company projects to post a net profit of Yen525 billion ($4.4 billion). For the year ended March, the company's net profit slipped 8.9 percent year-over-year to Yen522.8 billion. Honda shares rose 0.03 percent to $36.23 in pre-market trading.