TDK Q3 Recording Media Sales Off
By Jeff Malester -- TWICE, 2/5/2003
Tokyo - Sales in TDK's recording media and systems segment dropped 1.6 percent in its fiscal third quarter, down to $332.6 million, from $338 million the previous year.
Audio and videotape led the downward trend.
However, TDK reported third quarter operating income of $2.9 million in its recording media and systems segment, compared with an operating loss of $8.5 million in the year-ago period.
Sales to the Americas in the third quarter, ended Dec. 31, edged downward 1.4 percent, hitting $235 million, compared with $238.3 million in the same three months in 2001.
Consolidated sales in the third quarter pushed TDK up 9.2 percent, to $1.4 billion, compared with $1.2 billion year over year. The company reported operating income of $51.6 million in the three months, compared with an operating loss of $118.4 million in the same quarter in 2001. Net income for the three months came in at $38.2 million, compared with a loss of $81.5 million in the same quarter the previous year.
TDK projects net sales of $5.1 billion for the year, ended March31, up from $4.8 billion in the year-ago period. Net income is expected to rise to $105.3 million for the 12 months, compared with a net loss of $215.3 million in the same quarter the previous year.
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