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TDK Recording Media Sales Slide 11.9%

10/31/2005 01:27:00 PM Eastern

Tokyo — Fiscal first-half sales in the recording media business at TDK dropped 11.9 percent, down to $429.5 million, from $487.7 million in the year-ago quarter, as declining sales of audio and video tapes outweighed the gains made by optical media.

In the fiscal second quarter, ended Sept. 30, recording media sales were off 11.8 percent, coming in at $221.1 million from a year-earlier $250.6 million.

The recording media business extended its operating loss 39.7 percent in the first six months, with the negative figure reaching $42.4 million, compared with a loss of $20.2 million in the same period last year.

In audio and video tapes, TDK said it maintained a high market share, while demand is declining for these products as a whole.

Sales of optical media increased slightly year-on-year, with higher DVD sales driven by increasing demand, offsetting lower CD-R sales.

In the Americas, overall TDK sales for the six months were flat, at $341.3 million, compared with a year-earlier $344.2 million. Operating income in the Americas, however, moved up 9.5 percent, hitting $42.4 million in the six months, as it doubled up on the $20.2 million reported for the same time frame last year.

Overseas sales for the first half moved up 15 percent to $2.3 billion from the past year’s $2 billion, while overseas sales in the second quarter jumped 22.2 percent, coming in at $1.2 billion, from $997.9 million in the same three months last year.

In the second quarter, consolidated sales moved up 14.2 percent to $1.6 billion from $1.4 billion.

Operating income for the three months increased 13.3 percent, climbing to $131.1 million, from $115.7 million a year ago. Net income for the period was up 11.2 percent, reaching $93.3 million, from $83.9 million year-on-year.

Consolidated TDK sales for the first half rose 10.4 percent, reaching $3 billion, compared with $2.7 billion the previous year.

Consolidated operating income edged upward 1.1 percent, to $242.5 million in the first six months, compared with $239.9 million in the same period a year ago. Net income jumped 9 percent, hitting $180.3 million from a year-earlier $171.8 million.

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