JVCKENWOOD and Alps Alpine reported their earnings for the quarter ended June 30.
JVCKENWOOD reported that its aftermarket revenue decreased from a year ago “resulting from inventory adjustment at home and abroad.”
Its OEM busines was up from a year ago as the company improved its inventory levels, it said.
Overall sales for the Mobile & Telematics Services Sector was up 8 percent to $328 million. Core operating income swung to a profit of $2.9 million, compared to a loss last year’s quarter of about $282 million.
Total corporate revenue for JVCKENWOOD including its communications and other sectors, amounted to $598 million (85.598 billion yen), up from $503 million for the quarter a year ago. Operating income was $35 million compared to $3.1 million a year ago. Net profit was $24.3 million, compared to a loss of $1.7 million a year ago.
At Alps Alpine, the Module System Segment (which includes infotainment), reported a 30.5 percent increase in net sales to $995 million. Operating loss was $20.2 million compared to an operating loss of $41.2 million a year ago.
Alps Alpine said of the Module System Segment, “Sales increased due to an increase in demand for automotive components in line with the recovery in global automotive production and the contribution of new infotainment products that began to be sold in the previous … quarter.” The company said it reduced its costs, which helped reduce its operating loss.
Total Alps Alpine revenue, including all sectors, was $1.5 billion for the quarter, compared to $1.4 billion a year ago. Operating income swung to a loss of $17.7 million compared to positive operating income of $12 million last year. Net income also swung to a loss of $16.6 million compared to a positive net income of $18 million a year ago.
