Pioneer, JVCKenwood, Alpine Report Q1 Sales

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Pioneer Kenwood Alpine financial results

Pioneer sales of consumer and OEM car audio products declined in North America for the quarter ended March 31.  Car navigation sales in North America appear to be on a par with a year ago.

Total Pioneer Corp sales for the quarter fell to $752 million (83.3 billion yen) down from $860 million for the same quarter last year.  A dip in OEM sales and a high yen to dollar ratio caused the shortfall, said Pioneer.  It reported a net loss of $18 million compared to a profit of $11.7 million for the same fiscal first quarter a year ago.

Car electronics fell 9.2 percent to $625 million mainly due to lower OEM sales.  Overall consumer sales were virtually unchanged compared to last year.

Pioneer breaks out North America car electronics sales, which fell to $170 million from $180 million for the year ago quarter.

The company said its strategy for the remainder of its fiscal year ending next March is to introduce new car AV models for the North American and other markets with advanced smartphone connectivity.

Overall OEM sales accounted for 60 percent of total Pioneer car electronics sales compared to 63 percent a year ago.

JVCKenwood’s automotive division performed well during the recent quarter ending in March, swinging to a profit, and the company overall also performed better than the same quarter ago, it reported.

Singling out the automotive sector, JVCKenwood saw a profit of $12 million (1.87 million yen) compared to a net income loss of $4.8 million for the same quarter a year ago.

Sales in the automotive sector increased to $368 million, up from $296 million a year ago.

Regarding the company overall, including its media and public service divisions, JVCKenwood narrowed its loss to $11 million for the quarter, compared to a loss of $24 million a year ago.  Sales increased to $629 million, up from $596 million for the same first fiscal quarter last year.

Alpine Electronics narrowed its net loss on slightly lower sales than last year during the recent quarter.

Sales slid to $552 (61 billion yen) from $565 million a year ago.  Net profits fell by $11.5 million compared to a loss of $18.6 million for the same quarter a year ago.

 

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