TDK Q1 Recording Media Sales Rise 2.1%
By Jeff Malester -- TWICE, 9/2/2002
Tokyo— Increasing optical disc, videotape and tape-based data storage media sales boosted dollar volume in the recording media and systems segment at TDK 2.1 percent in the company's fiscal first quarter, to $254.5 million, up from $249.6 million in the year-ago first period.
TDK reported that audio tape sales fell as overall demand softened, but videotape sales rose slightly, helped by demand stemming from the 2002 FIFA World Cup. Optical disc sales increased in rising volume of mainstay CD-Rs — which offset falling sales prices — and increasing sales of DVDs.
Operating income in the recording media and systems segment in the first quarter hit $3.9 million, compared with an operating loss of $13.6 million in the same quarter in 2001.
Pushed by higher sales in recording devices, as these regained market share, and higher sales in its recording media and systems segment, TDK enjoyed an 8.3 percent climb in sales to the Americas during its fiscal first quarter, reaching $243.3 million, up from $224.9 million in the year-ago first quarter.
The overall result was a 9.8 percent rise in overseas sales in the first three months, ended June 30, hitting $884.9 million, up from $806.9 million in the same three months in 2001.
