Alpine announced higher profits and sales for the nine months ended December 31 and revised upwards its forecasts for the full year ending in March.
The company is now forecasting profits of $104.7 million (12.5 billion yen) up from earlier projections of $71.2 million. Sales for the year are now forecast at $24.3 billion (290 billion yen), up from $23.8 million earlier.
Alpine cited several reasons for the growth including continued strong new car sales in North America and China and increased demand for information technology and safety products for the car.
Alpine’s new Restyle program in the US was also mentioned as contributing to the gains. Under the Restyle program, Alpine shifted to an upscale merchandising plan, supplying higher end navigation radios with large 9-inch screens to owners of trucks and SUVs.
For the recent nine month period, Alpine increased net sales by 3 percent to $181 million (216.7 billion yen). Net income increased 27 percent to $72.3 million, up from $56.9 million for the same period a year ago.
Source: Alpine
