twice connect

TDK Tape/Blank Media Segment Sales Dip 0.3%

4/29/2004 08:58:00 AM Eastern

Tokyo — Sales in the audio tape and video tape categories at TDK decreased in the company’s fiscal year, as demand continued to shrink due to market changes, translating into a less than 1 percent decrease for TDK’s recording media and systems segment, down to $1.3 billion.

Optical media products posted increased sales for the 12 months, with higher sales volumes of CD-Rs and DVDs in an expanding market offering lower sales prices.

In the Americas, TDK 12-month sales for the fiscal year, ending March 31, decreased 15.5 percent, down to $845.8 million from $969.5 million a year earlier, due mainly to the appreciation of the yen vs. the dollar. When all other regions are included, company overseas sales rose 10.6 percent to $4.6 billion from a year-ago $4.1 billion.

Overseas sales for the recording media and systems segment increased 1.7 percent, hitting $945.8 million, up from $930.2 million in the same period 12 months earlier.

TDK consolidated sales for the year climbed 8.2 percent, reaching $6.2 billion from $5.6 billion the previous period. Operating income for the year more than doubled to $512.5 million from $201.8 million year-on-year. Net income more than tripled in the period to $397.2 million, up from $109.9 million.

The company anticipates a 3.2 percent consolidated sales increase for the current fiscal year, reaching slightly above $6.2 billion. Operating income should get a 10.5 percent boost to $548.4 million in the current 12 months, while net income is expected to rise 10.4 percent, hitting $420.5 million.

Want to read more stories like this?
Get our Free Newsletter Here!

Curated By Logo