Alpine Electronics of Japan posted solid gains in fiscal 2011 despite the Japanese earthquake in March, citing strong sales in car audio amplifiers and speakers and in auto navigation (both consumer and OEM).
Net sales for the fiscal year ended March 31, 2011 rose over 19 percent to 201.2 billion yen (about $25 billion) compared to 168.5 billion yen a year ago.
Net income improved to 6 billion yen (about $75 million), up from a net loss of 1.2 billion yen a year ago. Net income would have been higher but for the earthquake, said the company.
While sales of car audio speakers and amps were strong, sales of head units (car radios) were sluggish due to competition with low end products. Alpine’s total audio sales fell less than 1 percent to 69.8 billion yen.
Navigation was strong in consumer products in both Europe and the U.S. and OEM navigation sales increased. Sales of total info & communications products rose almost 40 percent to 131.3 billion yen, up from 108.2 billion yen.
For the coming year ending March 31, 2012, the picture looks a bit dimmer. Net income should fall 42 percent to 3.5 billion yen ($44 million) due to higher costs of materials and other factors. Net sales will decline 5.6 percent to 190 billion, said the company.
Source: Alpine Electronics
