NSG Reports 9 Percent Drop in Revenues for Third-Quarter

The NSG Group has reported a 9 percent drop in its cumulative group revenues for the third-quarter of fiscal year 2013. The company’s revenues dropped from $4.5 billion (U.S. dollars) (420.8 billion Yen) in the third-quarter of 2012 to $4.2 billion for the same period in 2013.

The company attributes the results to low levels of activity in the company’s major markets and challenging market conditions.

NSG reports an operating profit of $50.8 million for the quarter, compared with $129.7 million for the same period of last year.

In the architectural market, the company reports revenue of $1.8 billion for the quarter, compared with $2.0 billion for the third quarter of 2012.

Automotive revenues were reported at $1.9 billion, compared with $2.0 billion for the same period last year.

On a positive note, NSG notes that the North American architectural and automotive markets are continuing to improve, while the company’s major European and architectural markets “remain challenging.”