Alpine Electronics posted higher aftermarket car audio sales in North America for its recent quarter ended June 30.
Overall, the company also posted a higher net income, but operating income fell due to “harsh conditions.”
Sales of car audio in North America rose due to sales promotions for in-dash CD players and full sound systems, while aftermarket sales remained flat in the Japanese market.
OEM car audio sales to automakers also rose compared to last year when automakers were still recovering from the recent Japanese Earthquake.
As a result the company’s total audio products segment saw a 10.7 percent sales gain over the previous year to the equivalent of approximately $20.1 million, for the quarter.
Company-wide, (including other automotive information and communication products) Alpine Electronics consolidated net sales rose 18.2 percent to $702.4 million. Operating income decreased by 12.8 percent to $16.6 million and ordinary income fell 21.6 percent to $15.23 million for the company’s fiscal Q1 2013.
But net income climbed 53.9 percent to $21.7 million.
Alpine said “harsh conditions continued as the costs of materials for in-car displays remained as high as ever, and the appreciation of the yen and price wars with competitors placed downward pressure on profit.”
See also Pioneer: Car Audio Sales Up, Earnings Down
Source: Alpine Electronics http://www.alpine.com/e/investor/library/pdf/kessai/ja/1st2012_en.pdf
