JVCKenwood Trims Losses

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JVCKenwood trimmed its losses during the first nine months of its fiscal year and swung its operating income in car electronics to a gain.

The company reported operating income for car electronics rose to $5.4 million in the first nine months of the year (April 1-December 31, 2014), compared to the a loss of $19.8 million in operation income for the same period a year ago.

Net sales in car electronics fell during the 9 months to $747.4 million (87,926 million yen) down from $765 million (89,990 million yen) for the period a year ago.

Overall, including other division such as professional systems, optical & audio and entertainment software, net sales fell to $1.76 billion (206,943 million yen), down from $1.96 billion (230,296 million yen) for the period a year ago.

The company continued to see profits decline over last year although it trimmed its losses to a net income loss of $5.54 million for the nine months compared to $48.4 million.

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