Its group net profit hit 16.1 billion yen (134 million dollars) compared with 8.0 billion last year, while pre-tax profit grew 86.6 percent to 28.6 billion yen, on best-ever sales of 712.3 billion yen -- a 7.6 percent rise.

"(The higher profits are) mainly attributable to a large increase in sales in home electronics, car electronics and others despite a decline in profit from patent licensing due to decreased royalty revenue," Pinoeer Corp. said in a statement.

Continued demand for plasma displays, DVD recorders and car navigation systems would further boost Pioneer's earnings going forwards.

In the financial year to March 2004, the company forecast another year of record sales, with revenue seen rising 7.0 percent to 760.0 billion yen.

Its pre-tax profit is expected to jump 29 percent to 37.0 billion and net profit lift 24 percent to 20.0 billion yen.

SPACE.WIRE