Monday, June 25, 2018
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
FCC to Seek for Flexible Use of C-band and 6GHz Airwaves
AMD Presents Modular Routing Design for Chiplet-based Systems
Software Business Continues to Work For BlackBerry
Apple Turns to the U.S. Patent Office to Invalidate Qualcomm Patents
Samsung Patents Bezel-less, Notch-free Smartphone Design
China is Home to Most Smartphone Vendors
VidCon 2018: Youtube Announces Memberships, Merchandise as Alternatives to Ads
Chatting With Google Assistant Gets More Natural
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > Optical Storage > Pioneer...
Last 7 Days News : SU MO TU WE TH FR SA All News

Thursday, August 02, 2001
Pioneer Q1 profit up but U.S. drags sales


Japan's Pioneer Corp said on Wednesday its net profit jumped in the April to June quarter on strong demand for DVD video players and car audio equipment but it warned that a weak U.S. economy was weighing on broad sales.

Pioneer, the world's largest audio equipment maker, said group net profit rose 7.1 percent in the April-June quarter from the year earlier to 3.01 billion yen ($24 million) on a consolidated basis, or 16.7 yen per share.

Still, it became the latest victim of weaker U.S. demand with sales slipping 1.7 percent from the year-ago quarter to 136.89 billion yen. Accounting for income from patent royalties, revenue was 141.64 billion yen.

``Despite the weaker yen against the dollar and the euro, North American demand for audio and visual products has declined dramatically and as a result our overseas sales have declined 11.7 percent to 25 billion yen,'' Pioneer said in a statement.

The chip sector has seen a sharp drop in demand, but Katsuhiro Abe, Pioneer's senior managing director, said that Pioneer's product line had helped it weather the storm.

``The market for chips and related products is weak but Pioneer is focused on digital products such as DVD (digital versatile disc) recorders, so we are very lucky,'' he told reporters.

The weaker yen, which makes Japanese exports more competitive overseas and allows companies to repatriate more money, had boosted Pioneer's bottom line in the previous financial year, which ended in March.

Abe said Pioneer had changed its foreign exchange assumptions in forecasting its outlook for the full year to 120 yen to the dollar from 117, but left the full-year profit forecast intact. Still, the healthy first quarter results mark a bullish beginning to the current year, which Pioneer expects to be even better with net profit rising 14.8 percent to 21 billion yen and sales growing 11.3 percent to 720 billion yen. Despite the weaker audio and visual products sector, Pioneer said digital versatile disc (DVD) video players were selling well along with a new car navigation system that relies on an internal hard disk drive to store information. Group operating profit was up 11.2 percent from a year earlier to 5.16 billion yen.

Pioneer said little about its plasma display panels (PDPs) business, which was credited with boosting earnings last year and is expected to contribute heavily this year. It plans to boost its spending on production of PDPs, which are used in personal computers, big-screen TVs and mobile phones, to 10.5 billion yen this year from 5.0 billion yen last year.


Previous
Next
Anti-piracy system could damage loudspeakers        All News        Anti-piracy system could damage loudspeakers
Anti-piracy system could damage loudspeakers     Optical Storage News      Anti-piracy system could damage loudspeakers

Get RSS feed Easy Print E-Mail this Message

Related News
Pioneer Releases 80th Anniversary TAD-ME1 "Micro Evolution One" Speakers
Pioneer DDJ-SB3 DJ Controller Lets Almost Anyone Scratch
New Pioneer DDJ-1000 Controller Designed for rekordbox dj
New Pioneer BDR-XD07 External Blu-ray Burners Connect Directly to Android Smartphones
Pioneer Introduces New CDJ-2000NXS2-W and DJM-900NXS2-W
HERE and Pioneer Partner on Global Map Solutions
Pioneer's Flagship Se-Monitor5 Hi-Res Headphones Released
Konica Minolta and Pioneer Join Forces On OLED Lighting Business
Pioneer Debuts New Elite 7.2-channel Network AV Receivers
Pioneer BDR-211UBK BD Writer With Ultra HD Blu-ray Playback Support Launches In The U.S
Pioneer BDR-XD06J-UHD Is The First Portable UHD BD PC Drive
Pioneer Rayz Earphones Support Apple's Lightning Audio Technology

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2018 - All rights reserved -
Privacy policy - Contact Us .