JVC Kenwood Forecasts Sales for Coming Year

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JVC Kenwood is forecasting a small increase in sales for its new fiscal year which ends March 31, 2017.

But it expects a drop in profits of about 90 percent.  It anticipates net income for the coming year will fall to $2.8 million (300 million yen) down from this year’s net income of close to $30 million.

JVC Kenwood also reported its full year earnings for the recent year, which just ended March 31, 2016.  It achieved higher sales, but again, net income declined.

Sales for the past full year were $2.74 billion (292,195 million yen) compared to $2.67 billion a year earlier.  Net income was almost $30 million compared to $44 million a year ago.

Looking at automotive sales specifically, JVC Kenwood automotive product sales were $1.3 billion, up 18 percent from the year earlier.  But net profits for the automotive sector were $2.6 million compared to $12.6 million a year ago.

JVC Kenwood is forecasting sales of $2.77 billion for the coming year, up slightly from $2.74 billion in fiscal 2016.

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1 Comment

  1. Hmmmm…..a “90% drop in profits”. It’s gonna happen every time you stay with technology that is close to 35 years old (CD’s). I guess they ran out of lipstick to put on this pig. OEM’s don’t care…they just put in cheap.

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