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Alpine Net Income Jumps In Latest Fiscal Year

Iwaki, Japan — Alpine posted its fourth consecutive year of net income for the fiscal year ending March 2014, when net income soared 428 percent to 9.2 billion yen ($90.3 million) on a 28.6 percent sales gain to 285.9 billion yen $2.8 billion).

Operating income was up for the year by 326 percent to 9.81 billion yen $96 million).

Alpine forecasts net income in its current fiscal year ending March 2015, but as “the benefits afforded by the depreciating yen diminish,” the company expects net income to fall 35 percent to 6 billion yen $59 million). As a result, “the Alpine Group will seek to improve profitability and set itself apart from rival companies by adding further to the value of its products while continuing measures to strengthen its cost competitiveness.”

The supplier of OEM and aftermarket car audio, navigation systems, and backup cameras, along with OEM displays, also forecasts sales will drop 3.8 percent in the coming fiscal year.

 In fiscal 2009 and 2010, Alpine posted net losses.

Currencies were converted at a rate of 102.2 yen to $1.