JVCKenwood, Alps Alpine Report Sales

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Alps Alpine-JVCKenwood

JVCKenwood posted a profit for the first nine months of its fiscal year, which ends March 2021.  However sales and profits fell compared to the period a year ago.

Sales fell to $1.85 billion from $2.1 billion for the period a year ago. Net profit was $4.7 million compared to $16 million a year ago.  Operating profit fell by half to $19.6 million, from $40 million last year.

For the Automotive Sector specifically, sales fell to $972 million from $1.1 billion a year ago. Operating income for the sector fell to $10.3 million compared to $19.8 million a year ago.

Alps Alpine reported sales for the first nine months (April – December) of the fiscal year that ends in March. It saw a 25 percent drop in Automotive Infotainment Segment sales for its 9 month period ending December 31, 2020.  Automotive Infotainment sales dipped to $1.7 billion (178.3 billion yen) with an operating loss of $24 million compared to an operating income of $76 million for the same period a year ago.

Alps Alpine blamed the declines on the lower number of vehicles sold during the period due to COVID-19.

In total for Alps Alpine, which also has a Components business and a Logistics business, sales were $5 billion for the first nine months compared to $6.5 billion a year ago. Operating income was $83 million compared to $297 million a year ago and net income swung to a loss of $21 million compared to a gain of $50 million for the period last year.

 

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