Kenwood, Alpine Report Q1 Results

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Alpine-JVCKenwood

Alps Alpine reported a soft first quarter with net sales in its automotive infotainment segment (which we believe is mainly Alpine products) increasing by almost 10 percent to $737 million (78.5 billion yen).  But operating income declined by over 39 percent to $22.5 million.

Alps Alpine sales of electronic components (formerly, mainly Alps) fell by over 3 percent in sales and almost 44 percent in operating income due to slower world automotive sales.

Looking at consolidated sales for the entire corporation,  sales increased 1.7 percent to $1.9 billion and operating income fell 39 percent to $54 million. In total, Alps Alpine saw profits swing to a loss of $10.3 million for the quarter ending in July.

JVC Kenwood saw profits rise for the quarter to $8.3 million (882 million yen) from $2.5 million a year ago.

JVC Kenwood sales rose to $691 million, up from $681 million and operating profit rose to $16.6 million, up from $9.3 million.  But the upswing came mainly in the company’s Media Service Sector and Other Services.

Sales actually fell in the Automotive Sector compared to the same quarter last year.

Automotive Sector sales dropped to $376 million, compared to $402 million a year ago.  Operating income fell to $9.9 million, down from $18.7 million.

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