Things are beginning to look up for Pioneer. After a period of restructuring and re-focussing, the corporation posted a dramatic 20.4 percent gain in revenue and an operating income of 191,676 million yen for its first financial quarter, ended June 30.
The improvement was down to growing interest in its European and North American plasma business as well as accelerating car audio and sat nav revenues.
Sales in its Home Electronics division increased 32 percent year-on-year to 83,451 million yen, with plasma displays accounting for 47 per cent of the revenue. Operating income was 7,077 million yen, compared with an operating loss of 8,931 million yen in the corresponding period last year.
Pioneer’s operating loss in this segment was 397 million yen, which is a significant improvement compared with its operating loss of 12,358 million yen in the corresponding period last year.