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Nissan Raises Fiscal-Year Profit Forecast

Nissan, Japan's third-biggest carmaker, swung to a profit in the fiscal third quarter and raised its full-year profit forecast.

TOKYO (

TheStreet

) --

Nissan

(NSANY)

, Japan's third-biggest carmaker, swung to a profit in the fiscal third quarter and raised its full-year profit forecast.

Nissan earned 45 billion yen ($502.5 million) in the third quarter, saying the results were driven in part by sales growth in China. A year earlier, Nissan posted a loss of 83.2 billion yen.

Nissan said net revenue rose 9.9% to almost 2 trillion yen. The carmaker, behind

Toyota

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Honda

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in terms of sales, sold 882,000 vehicles worldwide in the October-to-December 2009 period, a 20.6% increase from the same period in fiscal 2008.

Nissan said it now expects net income of 35 billion yen for the fiscal year ending in March; it previously forecast a loss of 40 billion yen.

-- Reported by Joseph Woelfel in New York.

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