Komatsu Ltd. net sales for its first fiscal quarter grew 6.7% compared to the same period a year ago. Sales were about $6.24 billion, up from about $5.84 billion. Sales of construction, mining, and utility equipment grew 5.6% in the quarter to approximately $5.81 billion compared to approximately $5.5 billion a year ago.
Construction sales declined, but mining equipment remained steady, according to the Japanese company. It also cited depreciation in the yen.
Operating income in the quarter grew 6.8% to about about $1.0 billion, driven by depreciation in the yen and price increases. Profit in the construction, mining, and utility segment was up 2.8%.
Sales to North America grew 29% in the quarter, to approximately $1.7 billion, up from approximately $1.5 billion a year ago.
