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TDK 2006 Media Sales Fall 4.6%

4/27/2006 10:23:00 AM Eastern

Tokyo — Recording media sales at TDK declined 4.6 percent to $918. 2 million during the fiscal year, ended March 31, while the segment recorded a loss of $118.0 million, 79.6 percent higher than the previous fiscal year.

TDK reported that sales of optical media increased during the fiscal year overall, but CD-R demand has “peaked and is declining slowly.” Lower CD-R sales were offset by higher sales of DVDs driven by increasing demand. Blank audio and video tape sales continued its decline as consumers switched to optical media.

The company posted consolidated net sales of $6.8 billion during the fiscal year, up 20.9 percent, while operating income rose 1.2 percent to $517.3 million. Income from continuing operations before taxes increased 8.9 percent to $564.9 million, and net income during the fiscal year rose 32.4 percent to $376.9 million.