Friday, March 27, 2015
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
New HEVC Patent Pool Launched
Micron and Intel Unveil New 3D NAND Flash Memory
Amazon Cloud Drive Now Offers Unlimited Storage
Twitter Launches Periscope Live Video Streaming App
3DMark Adds API Overhead Feature-set
New HTC One M9 Goes On Sale Today
Apple Rumored To Release New iPhones Later This Year
DVDFab Loses Legal Battle Against AACS LA
Active Discussions
how to copy and move data files to dvd-rw
cdrw trouble
Need serious help!!!!
burning
nvidia 6200 review
Hello
Burning Multimedia in track 0
I'm lazy. Please help.
 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
New Pioneer Home Theater Receivers Feature Dolby Atmos
Pioneer Brings Android Auto and Apple Carplay Your Car
Pioneer Competes transfer Of DJ, Home Electronics and Headphones Businesses
Pioneer Goes Retro With The New PL-30 Turntable
Pioneer HDJ-2000MK2 Headphones Target Pros
Pioneer DJ Unveils New Professional Studio Headphones
Pioneer XDJ-RX Rekordbox DJ System Comes With a Built-in Screen
Pioneer Releases Solid-state Drive
New Pioneer BDR-S09J-X BD Is Optimized For Audio Playback
Pioneer at CES 2015
Pioneer To Release The BDR-XU03JM Portable Blu-ray Drive For Macs
New Pioneer XDJ-1000 Multiplayer Offers Touchscreen, Wi-Fi Connectivity, and rekordbox

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2015 - All rights reserved -
Privacy policy - Contact Us .