JVCKenwood and Alpine reported strong sales and profits for the quarter ended June 30.
Alpine swung to a profit of $20.6 million after a loss in the same quarter a year ago of about $11.4 million. Sales climbed to $660 million, (73,460 million yen), up from $548.8 million a year ago.
Operating profit rose to $36 million, jumping from $3.5 million a year ago.
Alpine divides its automotive earnings into those from audio and those from navigation/information. Audio-only sales were flat against last year at about $97 million while navigation/information system sales rose to $540.3 million up from $428.8 million for the year ago quarter.
JVCKenwood also swung to a profit for the quarter compared to the same quarter a year ago. Profits were $2.4 million compared to a loss of $6.6 million a year ago. Sales hit $652.4 (72,566 million yen) up from $619.5 million a year ago.
In the automotive sector specifically, sales were $386.7 million with an operating income of $17.9 million; up from last year’s results of $361 million for the quarter with an operating income of $13 million.
Pioneer’s sales increased slightly but its losses widened in the quarter ended June 30.
Sales rose less than 1 percent to $752 million (or 83.8 billion yen), compared to $747 million last year.
Profits fell to a loss of $60 million compared to a loss of $183 million a year ago.
In car electronics, specifically, sales increased 1.5 percent for the quarter to $630 million due to increases in sales of telematics services and OEM business. Sales to consumers remained about flat compared to the same period last year. Car navigation sales to consumers fell in North America as well as in Japan.
OEM sales now account for 61 percent of Pioneer’s car electronics sales, compared to 60 percent a year ago.
Pioneer had an overall operating loss of $14 million compared to an operating loss of $2 million a year earlier.
