Alpine and JVCKenwood both doubled profits for the first half of the Japanese fiscal year (ended September 30) on higher sales.
Alpine’s increases were attributed to strong European OEM sales and better efficiencies.
Total Alpine sales were the equivalent of $1.3 billion (147.1 billion yen), up from $1.1 billion last year. Total profits were $43 million for the first half, compared to $21 million for the period last year.
Aftermarket sales climbed to $392 million, up from $386 million a year ago. Aftermarket sales now represent 15 percent of total company sales compared to 16 a year ago.
Operating income doubled to $67 million, from $33 million and ordinary income nearly doubled to $60 million, compared to $33.5 million last year.
The US accounted for 6 percent of Alpine’s sales for the first half, compared to 6.5 percent of sales for the same period last year.
Alpine spent $171 million in research and development during the first half up from $154 million for the period last year.
JVCKenwood reported sales of $1.32 billion (149.1 billion yen) compared to $1.25 billion last year. Profits doubled to $15.6 million compared to $7.4 million for the period last year. Operating income rose to $31 million, from $21 million last year.
In the automotive sector specifically, JVCKenwood reported sales of $759 million, up from $714 million last year. Core operating income for the automotive sector neared $37 million, up from $28 million a year ago.