Mazda Motor Corporation has posted net income of 11.6 billion yen (about $US107 million) for its first fiscal quarter of 2004. Operating profit was 20 billion yen and ordinary profit was 16.1 billion yen.

This is the first time that the automaker has reported profits on a quarterly basis so year on year profit comparisons were not provided.

During the period April through June 2004 Mazda sold 258,150 vehicles and sales revenue was 642.3 billion yen.

The company said its global retail sales were up 11.9% from year-ago levels.

Retail sales in Japan for the first quarter were in line with market performance, down 2.6% year-over-year to 60,300 units.

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In the United States, retail sales totaled 76,189 units, up 11.7%.

European sales were 74,895 units, up 19.7% year on year and the highest in a decade.

Additional strong results during the first quarter were posted in Canada, where sales in the first quarter were 25,064 units, up 23.1% year-over-year. In China, where 24,413 vehicles were sold, sales were up 32.4% over year-ago levels.

Financial projections for fiscal 2004 were unchanged.