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JVC Records 1.7% Dip In CE Sales

Tokyo — The consumer electronics segment at Victor Company of Japan (JVC) reported a 1.7 percent sales decline in the company’s fiscal year, sliding to $5.92 billion from a year-ago $6.02 billion.

In the segment, overseas sales to the Americas were highlighted by the launch of the HD-ILA rear-projection TVs, as well as expanding sales of rear-projection TVs, car electronics and LCD TVs. However, a slump in camcorder sales resulted in an overall year-on-year U.S. sales drop.

Sales in JVC’s software and media segment received a strong performance from DVD recording media. The segment also includes music and video software, such as CDs, videodiscs, prerecorded music and video tapes, and blank media. However, overall segment sales still declined 35.2 percent to $905.4 million from a year-earlier $1.4 billion.

JVC did not publish fourth-quarter sales or earnings for business segments or consolidated figures.

Despite strong sales of LCD TVs in all overseas regions, weak sales of camcorders helped drive down consolidated sales for the 12 months by 8.8 percent, to $7.9 billion from a year-ago $8.7 billion.

Consolidated operating income declined 59 percent, down to $97.9 million for the fiscal year, ended March 31, compared with $237.4 million in the same period the previous year. JVC recorded a net loss for the 12 months, at $17.5 million, compared with net income of $147.3 million in the same 12 months a year earlier.

Overseas sales at JVC for the 12 months dropped 8 percent, down to $5.4 billion, from $5.9 billion the same period last year.