JVC Kenwood Sales Down, Net Income Up

JVC Kenwood announced its financial results for the period from April 1 through December 31, 2011.

Net sales for the 9 month period fell 11.5 percent to over 236,000 million yen, down from over 267 ,000 million yen for the period in 2010.

But net income doubled to about 4.4 million yen, up from about 2.1 billion (as the company faced fewer “extraordinary losses” than last year during the structural reform of the company).

For the first nine months of the year net sales in car electronics fell to about 77,700 million yen, compared to 80,558 million yen. Sales of home & mobile electronics net sales fell to over 59,000 million yen, down from over 79,000 million yen last year.

JVC Kenwood cited strong OEM sales during Q3 and strong sales of aftermarket car radios in Japan.

Source: JVC Kenwood

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