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TDK Q2 Optical Media Segment Sales Rise 3%

10/29/2003 03:13:00 PM Eastern

Tokyo — TDK's second quarter sales of blank optical media products enjoyed an increase at TDK, as that market continued to expand.

Growth in optical media helped push up sales in the company's recording media and systems segment by 2.9 percent in the three months, ended Sept. 30, hitting $292.8 million, up from $291.5 million in the year-ago period.

On the other hand, demand for cassette tapes continued its long-term sales decline at TDK, as consumer interest shifted to optical media in the company's fiscal second quarter. At the same time, videotape sales also declined, as demand shifted from VHS tapes to DVDs, which the company said are rapidly gaining consumer acceptance.

In the first half, sales in TDK's recording media and systems business edged downward 0.3 percent, to $557.9 million, from $573.4 million. This business consists of blank media, computer speakers, portable audio players, audio CD recorders and accessories.

TDK sales to the Americas in the first half dipped 2.4 percent, down to $447.9 million, from $470.3 million. The operating loss for the Americas widened in the six months, climbing to $5.5 million, up from a loss of $2.9 million year on year.

Consolidated TDK sales in the second quarter jumped 10.4 percent, reaching $1.47 billion, up from $1.36 billion in the second quarter in 2002. Net income for the period soared to $101.2 million, compared with $22.9 million year on year.

For the six months, consolidated TDK sales increased 6.7 percent, hitting $2.8 billion, compared with $2.7 billion in the same period a year earlier. Six-month net income rose to $173.5 million, up from $42.9 million in the first six months of last year.

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