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Shimano Net Income Jumps 44 Percent

Published February 27, 2008

OSAKA, Japan (BRAIN)—Shimano’s 2007 net income jumped 44 percent, to about $178 million, after the components giant set an all-time sales record of nearly $1.9 billion last year.

Revenues and gross profits were both up 24 percent for the year: Total sales hit 211.77 billion yen ($1.895 billion, at Dec. 31 exchange rates), compared with 170.30 billion yen ($1.524 billion) in 2006, the company reported. Gross profits were 73.03 billion yen ($653.7 million) in 2007, and 58.64 billion yen ($524.9 million) in 2006. Net income hit 19.89 billion yen last year ($178.1 million), compared with 13.77 billion yen ($123.3 billion) the year before, a 44 percent jump.

Bicycle component sales, at 157.84 billion yen ($1.4 billion), accounted for 75 percent of the 2007 revenues. 2006 figures were 122.79 billion yen ($1.1 billion), 72 percent of the total.

—John Crenshaw

Topics associated with this article: Earnings/Financial Reports

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