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TDK Recording Media Sales Flat

1/30/2006 11:07:00 AM Eastern

Tokyo — Sales of recording media at TDK were flat in the company’s fiscal third quarter, coming in at $260.6 million for the three months, ended Dec. 30, compared with $259.8 million year-on-year.

However, the company did manage to reduce its operating loss in its recording media segment during the third quarter, down to $7.7 million, from a loss of $19.8 million in the same period in 2004. Declining sales of audio and video tapes continued to erase the gains made by optical media.

Consolidated TDK results for the third quarter jumped 27.8 percent, reaching $1.9 billion, up from $1.5 billion in the same period the prior year.

Operating income rose 23.3 percent companywide, hitting $181.5 million, compared with the past year’s $147.2 million. Consolidated net income soared 35.7 percent, coming in at $141.3 million for the third quarter, up from $104.1 million year-over-year.