IWAKI, JAPAN –
A funny thing happened on the way to the end of its fiscal third quarter: Alpine Electronics reported a profit.
Not only is Alpine like JVC Kenwood and Yamaha (see story at left), reporting profits for the ninemonth period ended Dec. 31, 2011, it optimistically reforecast its results for the entire fiscal year.
Alpine operating income fell 53.4 percent to 4.56 billion yen ($59.6 million), and net income fell 54.8 percent to 2.97 billion yen ($38.8 million). Net sales were off 1.3 percent to 145.4 billion yen ($1.9 billion), year on year.
But Alpine is optimistic about the full-year results based on gains in navigation system sales in Japan and to European automakers.
For the full fiscal year ending March 31, Alpine is now forecasting net sales of 200 billion yen ($2.61 billion), up from a previously forecast 190 billion yen. Net income is forecast at 3 billion yen ($39.2 million), up from a previously forecast 2.5 billion yen but down 50.2 percent from fiscal 2011’s 6 billion yen ($78.4 million). If the forecast bears out, Alpine will have posted its second consecutive fiscal year in the black.