JVCKenwood, Alps Alpine Report Full Year Results

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Alps Alpine-JVCKenwood

JVCKenwood and Alps Alpine reported full year results for the Japanese financial year ended March 31.

Both companies reported strong overall growth but their automotive infotainment sectors fell short of last year in some respects.

JVCKenwood saw overall sales rise and profits triple.  Sales reached $2.16 billion (282 billion yen), up from $2.1 billion a year ago.

Net profit climbed to $45 million, up from $16.5 million a year ago.  Operating profit surpassed $69 million, compared to $37.5 million a year ago.

For the automotive (Mobility & Telematics Services) sector, however, core operating income was halved from a year ago to $17.2 million, down from $43 million. Sales for the sector rose slightly to $1.26 billion, compared to $1.2 billion a year earlier.

Alps Alpine saw total company profits soar. But sales and operating profits of automotive infotainment fell slightly.

Total company sales for the year reached $6.2 billion compared to $5.5 billion a year ago.  Operating income more than doubled to $270 million, up from $100 million last year.  Ordinary income tripled to $309 million, compared to $101 million a year ago.  And net income swung to a profit of $176 million compared to a loss a year ago of over $29 million.

In Automotive Infotainment, sales fell 2.6 percent to $1.8 billion compared to a year ago.  The segment had an operating loss of $34 million, compared to a loss of $30 million a year ago.

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