Pioneer Corporation’s car electronics sales grew by over 25 percent to about $843 million in the recent quarter ended December 31. Car audio consumer and OEM sales increased in North America as well as other regions.
OEM sales accounted for 54 percent of total car electronics sales compared with 52 percent a year earlier.
Total net sales for the company (including home audio) rose almost 21 percent to the equivalent of $1.24 billion and were helped by the depreciation of the yen (by almost 20 percent against the dollar).
Home audio sales grew by 18.5 percent to about $288 million.
The company’s profits were still down for the quarter with a net loss of about $17 million compared to a net loss of $22 million a year ago.
Pioneer expects to be profitable for the full year fiscal year 2014, which ends March 31. It expects profits of about $5 million (compared to a net loss of $191 million a year earlier). It expects net sales to hit about $5 billion, up about 12 percent from a year ago.
Source: Pioneer Corporation