Toyota Motor Corporation TM posted consolidated net income of ¥426.6 billion ($3.71 billion) in fourth-quarter fiscal 2016, lower than ¥446.4 billion ($3.75 billion) in the year-ago quarter.Consolidated revenues in the quarter dropped 2.1% year over year to ¥6.97 trillion ($60.6 billion). Revenues also missed the Zacks Consensus Estimate of $63.1 billion.Unit sales went down 2% year over year to 2.19 million vehicles globally. Unit sales rose 15% to 698,000 vehicles in North America and 0.4% to 226,000 vehicles in Europe. However, sales declined 6.9% to 583,000 units in Japan, 8.9% to 329,000 units in Asia and 14.7% to 353,000 units in other regions (Central and South America, Oceania, Africa and the Middle East).Operating income decreased to ¥548.3 billion ($4.77 billion) from ¥635.7 billion ($5.34 billion) a year ago.Fiscal 2016 ResultsToyota recorded earnings of ¥735.36 per share ($12.25 per ADR) in fiscal 2016, compared to ¥687.66 per share ($12.44 per ADR) in fiscal 2015. Earnings per ADR lagged the Zacks Consensus Estimate of $12.91. Net income increased to ¥2.31 trillion ($19.3 billion) from ¥2.17 trillion ($19.7 billion) in fiscal 2015.Consolidated revenues were ¥28.40 trillion ($236.7 billion) in fiscal 2016 compared with ¥27.23 trillion ($247.6 billion) in fiscal 2015. Revenues missed the Zacks Consensus Estimate of $239.11 billion.Segment ResultsThe Automotive segment’s revenues dropped 2% to ¥6.38 trillion ($55.5 billion) in the quarter, while the operating income fell 15.7% to ¥449.9 billion ($3.9 billion).The Financial Services segment’s revenues went up 3.5% to ¥462.2 billion ($4 billion), while the operating income dropped 3.4% to ¥74.1 billion ($644.3 million).All Other businesses’ revenues declined 14.2% to ¥342.7 billion ($2.98 billion). However, operating income fell 5.2% to ¥21.3 billion ($185.2 million).Financial PositionToyota had cash and cash equivalents of ¥2.93 trillion ($24.5 billion) as of Mar 31, 2016, compared with ¥2.28 trillion ($20.8 billion) as of Mar 31, 2015. Total debt amounted to ¥18.29 trillion ($152.4 billion) as of Mar 31, 2016, compared with ¥18.98 trillion ($172.5 billion) as of Mar 31, 2015.In fiscal 2016, operating net cash flow was ¥4.46 trillion ($37.17 billion) compared with ¥3.69 trillion ($33.51 billion) recorded in the year-ago period.Fiscal 2017 GuidanceToyota revealed its consolidated revenue guidance of ¥26.5 trillion ($252.4 billion) for fiscal 2017. The revenue guidance reflects a 6.7% decline from fiscal 2016.Operating income guidance stands at ¥1.7 trillion ($16.2 billion). The guidance implies a 40.4% year-over-year decline.Net earnings are expected to be around ¥1.5 trillion ($14.3 billion). The net income guidance reflects expectations of a 35.1% decrease over fiscal 2016.Zacks RankCurrently, Toyota carries a Zacks Rank #3 (Hold).Some better-ranked automobile stocks include Lear Corp. LEA, Superior Industries International, Inc. SUP and Oshkosh Corporation OSK. All the three stocks sport a Zacks Rank #1 (Strong Buy).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report TOYOTA MOTOR CP (TM): Free Stock Analysis Report SUPERIOR INDS (SUP): Free Stock Analysis Report LEAR CORPORATN (LEA): Free Stock Analysis Report OSHKOSH CORP (OSK): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research