TDK Media Segment Sales Decline 12.1% - Twice

TDK Media Segment Sales Decline 12.1%

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Tokyo — Recording media segment sales at TDK dropped 12.1 percent in the company’s fiscal first quarter, from $244.1 million to $217.1 million. The segment is made up of blank audio and video tapes, optical media and other products.

The TDK recording media segment recorded an operating loss of $22.6 million in the first three months, ended June 30, compared with an operating loss of $8.1 million in the same period the prior year.

Sales of blank tape declined year-on-year, while TDK said it maintained a “high” market share, even with declining demand for these products as a whole.

Sales of optical media in the first quarter increased year-over-year, with higher DVD sales volumes, driven by increasing demand, offsetting lower CD-R sales.

Sales of other recording media segment products decreased year-on-year, mainly because of ongoing actions to realign the lineup of recording equipment and accessories products, said TDK.

Overall sales in the Americas increased 5 percent, said TDK, reaching $206.6 million in the first quarter, up from $194.5 million in the same three months during the prior year. Operating income in the Americas also climbed, rising to $23.9 million in the first quarter of the current year, from $5.6 million year-on-year.

Consolidated TDK first-quarter sales moved up 6.5 percent, hitting $1.5 billion, from $1.4 billion the previous year. Operating income dropped 10.3 percent in the period, down to $116.1 million from a year-ago $127.8 million. Net income rose 7 percent, reaching $98 million, up from $90.5 million in the first quarter of the previous year.

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