Pioneer swung to profitability and increased overall sales by over 10 percent for its recent fiscal year ended March 31.
Where last year Pioneer Corporation lost $191 million in profits, this year, it achieved profits of $5.2 million (531 million yen).
Sales rose to $4.9 billion (498,051 million yen), up from $4.4 billion last year.
Both consumer and OEM car audio sales rose in North America.
In total, car electronics sales grew by 11.4 percent over last year to $3.4 billion (348,075 million yen). About half of that, or 54 percent was in OEM sales, versus 51 percent last year.
Pioneer said it will “work to expand the Car Electronics business further by strengthening the smartphone linked car navigation business and by leveraging the synergies between ‘hardware & software and information services.’”
Home electronics sales rose 12.6 percent for the year to over $1 billion.