Alpine Electronics reported lower sales and net income for its fiscal year to date, citing continued fallout from the Japanese earthquake, floods in Thailand as well as a competitive aftermarket in the U.S.
The company “suffered from a shortage of parts” due to the recent national disasters. However, auto sales are rebounding and Alpine’s OEM sales grew 9.3 percent to almost 105 billion yen.
Sales were down, however for aftermarket car audio in the U.S. and Europe, said Alpine citing, “the aggressive marketing strategies of our competitors and deteriorating market conditions.”
Alpine said it continued to innovate, offering car radios with MirrorLink connections for smartphones (but not in the U.S.).
Net sales for the nine months topped 1.45 billion yen compared to over 1.47 billion yen a year ago. Net income per share was 42.53 yen compared to 94.14 yen a year ago.
Alpine expects to end the full fiscal year with net sales of 200,000 million yen, down .6 percent from a year ago and net income of 3 billion yen, down 50 percent from a year earlier.
Source: Alpine Electronics