Alps Alpine and JVCKENWOOD announced their first half financial results for the 6 months ended in September.
The Alps Alpine Modules & Systems segment (which includes Alpine in the “Systems” sector) reported sales of $1.8 billion in the first half, up from under $1.5 billion a year ago. Operating income from the segment swung to a profit of $3.3 million, compared to a loss of almost $35 million a year ago.
This was due to the recovery in automobile production and “contributions from new products in the systems business.”
Alpine reported improved operating margins in its Systems business but lower margins in the Modules sector.
Overall, for all divisions of Alps Alpine, sales for the first half reached about $3.1 billion (475 billion yen), up from about $3 billion a year ago. Operating income fell to about $70 million, compared to $132 million a year ago. Ordinary income also fell to $112 million, from $178 million and net profit was $44.4 million compared to $115 million a year ago.
JVC KENWOOD reported an increase in sales in its Mobility & Telematics (M&T) division overall but it said aftermarket sales declined.
Revenue for the division rose to $654 million compared to $642 million last year. Core operating income fell to $12 million compared to $14 million a year ago. The company said sales declined in its “Aftermarket Business and the Telematics Service Business.” But overall revenue and profit increased “because the OEM business saw a recovery in sales of dealer-installed products in Japan and robust sales by subsidiaries in Europe.”
In summary for all JVCKENWOOD divisions, total corporate sales rose to $1.2 billion (174.7 billion yen), up from $1.05 billion for the first half the year prior. Core operating income almost doubled to $70 million compared to $39 million last year. Operating profits rose to $65 million, up from $38 million and profits rose to almost $45 million compared to about $24 million last year.
